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LatinNews Daily - 31 January 2025

In brief: Argentina cuts interest rate as inflation eases

*Argentina’s central bank (BCRA) has lowered the country’s benchmark interest rate by 300 basis points to 29%. This marks the ninth adjustment since President Javier Milei took office in December 2023, bringing borrowing costs to their lowest level since October 2020. In a statement, the BCRA cited the “consolidation of expectations for a lower inflation rate” as the reason for the move. December’s monthly inflation rate reached 2.7%, slightly up from 2.4% in November but matching October’s figure. Meanwhile, the annual inflation rate stood at 117.8% in December, down from 166% in November and 193% in October.

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