*Argentina’s central bank (BCRA) has announced it is lowering the country’s benchmark interest rate by 10 basis points to 70%. This is the third adjustment since President Javier Milei took office in December. “After the initial correction of relative prices in December 2023, there has been a pronounced slowdown in inflation, despite the strong statistical drag that inflation carries in its monthly averages,” said the BCRA in a statement. Monthly inflation has steadily dropped in recent months. However, the annual rate has continued to rise, reaching 276.2% in February. The national statistics institute (Indec) is due to release March inflation figures today (12 April).
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