March 5, 2020 / 8:20 PM / a month ago

Argentina central bank cuts benchmark interest rate to 38%

BUENOS AIRES, March 5 (Reuters) - Argentina’s central bank lowered the benchmark interest rate to 38% from 40% on Thursday, the eighth cut since the middle of December when the country’s new Peronist government came to power pledging to rekindle stalled growth.

The bank said the cut was based on signs of slowdown in inflation and aimed to help revive the economy, vital as the country looks to avoid defaulting on its debts. (Reporting by Hernan Nessi; Writing by Adam Jourdan)

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