October 24, 2017 / 8:25 PM / 25 days ago

Argentina central bank hikes policy rate to 27.75 pct

BUENOS AIRES, Oct 24 (Reuters) - Argentina’s central bank raised its benchmark interbank lending rate to 27.75 percent on Tuesday, up from 26.25 percent previously, the monetary authority said in a statement.

The increase followed data putting Argentina’s inflation at 1.9 percent in September, higher than previous months. The country’s cumulative inflation rate is now 17.6 percent for the year, above the 12 percent to 17 percent target range. (Reporting by Cassandra Garrison and Luc Cohen)

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