January 10, 2020 / 3:17 AM / a month ago

Argentine cenbank cuts benchmark interest rate to 52% from 55%

BUENOS AIRES, Jan 10 (Reuters) - Argentina’s central bank said late on Thursday it had cut its benchmark interest rate to 52% from 55%, the third such cut in less than a month and part of an effort to revive Latin America’s No. 3 economy.

Argentina is suffering from slumping investment, flatlined growth and rising poverty.

President Alberto Fernandez, inaugurated in December, has vowed to lower borrowing costs and make more credit available while moderating the previous government’s unpopular fiscal tightening effort. (Reporting by Maximilian Heath; Writing by Dave Sherwood; Editing by Clarence Fernandez)

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