Central Bank seeks to reduce rates in January

Argentina’s new central bank president, Miguel Pesce, pledged to further cut interest rates in January (currently at 55%) to boost a free-falling economy while fighting inflation through a “social pact” that would encourage companies to raise production rather than prices. He said that the BCRA will continue with the controls of the exchange market and anticipated that it will extend the 7-day term of the Leliq treasury bills.

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Source: Bloomberg