April 1, 2019 / 1:23 PM / 3 months ago

Argentine central bank sets interest rate floor at 62.5 pct for April

BUENOS AIRES, April 1 (Reuters) - Argentina’s central bank said on Monday that it would set a minimum interest rate floor of 62.5 percent for the month of April as it forecast inflation to remain high.

The country’s benchmark interest rate, set by daily auctions of short-term “Leliq” notes, was 68.155 percent on Friday as the central bank looks to protect the embattled peso currency and rein in inflation running at an annual rate above 50 percent.

Reporting by Eliana Raszewski and Adam Jourdan Editing by Chizu Nomiyama

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