Argentina’s central bank on Monday hiked its benchmark interest rate by 600 basis points to 97%, according to an official announcement, as the country battles to bring down inflation that hit 109% on an annual basis in April. From a report: Reuters had reported the hike decision on Sunday, citing a source, as the government announced a package of measures to rein in soaring consumer prices and support the wobbly peso currency.

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Source: Slashdot – Argentine Cenbank Hikes Interest Rate By 600 Basis Points To 97%