Argentina raises interest rate to 97% as it struggles to tackle inflation

In an attempt to address the surging inflation that has reached its highest level in 30 years, the Central Bank of Argentina took the step of increasing its key interest rate on Monday. The rate was raised by six percentage points to 97%.

Inflation has become a pressing concern for central banks worldwide, but Argentina faces a particularly challenging situation, CNN reported.

The country witnessed its annual inflation rate surpassing 100% last month, marking the highest level since the early 1990s.

"Argentina raises interest rate to 97% as it struggles to tackle inflation"
READ MORE: https://www.cnn.com/2023/05/15/business/argentina-interest-rates-inflation/index.html

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