May 4, 2018 / 12:41 PM / 6 months ago

Argentine cenbank says hikes monetary policy rate 675 basis points

BUENOS AIRES, May 4 (Reuters) - Argentina’s central bank said on Friday it increased its monetary policy rate by 675 basis points, and vowed to keep using all tools at its disposal in an effort to hit the country’s 15 percent inflation target for this year.

The bank said Friday’s rate hike was also aimed at stabilizing Argentina’s peso currency, which has weakened dramatically in recent days.

Reporting by Hugh Bronstein Editing by Chizu Nomiyama

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