January 17, 2020 / 12:09 AM / a month ago

Argentine cenbank cuts benchmark interest rate to 50% from 52%

BUENOS AIRES, Jan 16 (Reuters) - Argentina’s central bank said late on Thursday it had cut its benchmark interest rate floor to 50% from 52%, the fourth such cut in just under two months as part of an effort to revive Latin America’s No. 3 economy.

Argentina is suffering from slumping investment, flatlined growth and rising poverty.

President Alberto Fernandez, inaugurated in December, has vowed to lower borrowing costs and make more credit available while moderating the previous government’s unpopular fiscal tightening effort. (Reporting by Maximilian Heath; Writing by Aislinn Laing; Editing by Sandra Maler)

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