*Argentina’s central bank (BCRA) has announced it is lowering the country’s benchmark interest rate by 10 basis points to 50%. This is the fifth adjustment since President Javier Milei took office in December. In a statement, BCRA attributed the reduction to the “rapid adjustment of inflation expectations” and “the strengthening of the fiscal anchor”. Monthly inflation has slowed in recent months, standing at 11.0% in March, down from 13.2% in February, 20.6% in January, and 25.5% in December 2023. However, the annual rate has continued to rise, reaching 287.9% in March, up from 211.4% in December.
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