RIO DE JANEIRO, BRAZIL - Argentina hiked interest rates on Thursday, November 12th, after monthly inflation accelerated to the highest level this year, a move aimed at bolstering peso savings and reining in prices amid a wider economic crisis.
The central bank raised the benchmark Leliq rate to 38 percent from 36 percent, after the country’s statistics agency had revealed October inflation speeding up to 3.8 percent and rolling 12-month inflation had been clocked at 37.2 percent in the month.
The central bank also raised overnight and 7-day reverse repo rates.
The consumer price rise, which . . .