LatinNews Daily - 16 June 2023

In brief: Argentina holds interest rates after slowdown in monthly inflation

* Argentina’s central bank (BCRA) has held the country’s benchmark interest at 97%, following a slight deceleration of monthly inflation in May. The latest inflation figures, released on 14 June, put monthly inflation in May at 7.8%, down from 8.4% in April. However, annual inflation in May was 114.2%, up from 108.8%. The BCRA’s decision to hold the interest rate followed a series of steep rate hikes, with the bank raising the rate by 600 basis points to 97% on 15 May, after previously raising it by 1,000 basis points to 91% on 27 April.

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