January 23, 2018 / 8:19 PM / a year ago

Argentina central bank cuts benchmark interest rate to 27.25 pct

BUENOS AIRES, Jan 23 (Reuters) - Argentina’s central bank cut its policy rate to 27.25 percent on Tuesday from 28 percent previously, the monetary authority said in a statement, the second straight cut since the government relaxed its inflation target.

The move comes after central bank Governor Federico Sturzenegger told reporters he expected regulated prices for services like utilities and transportation to rise 21.8 percent in 2018, below economists’ forecasts and below the 38.7 percent increase last year as President Mauricio Macri cut subsidies. (Reporting by Luc Cohen; Editing by Chris Reese)

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