Argentina’s central bank (BCRA) lowered its benchmark interest rate to 44% from 48% on Thursday, as a result of a deceleration in inflation, it said in a statement. This is the sixth time that the BCRA has reduced the interest rate since December when it was 19 percentage points above. Earlier, the National Institute for Statistics and Census (Indec) reported that inflation slowed down in January by 2.3%.
Argentina's Central Bank (BCRA) lowered the benchmark interest rate floor (Leliq) to 48% from a previous 50%, the fifth cut in under two months aiming at overcoming recession and lowering inflation. In that period Leliq has been lowered by 15 percentage points. Banks have been responding positively with loans to SMEs below expected inflation and personal credit lines with rates of around 45%.