Insane Inflation -- In Argentina

[tsptalk]

Argentina to Hike Interest Rates to 75% as Inflation Nears 100%

(Bloomberg) -- Argentina’s central bank raised its benchmark interest rate Thursday in a bid to prop up its currency and curb inflation nearing 100%.

The central bank boosted its benchmark Leliq rate by 5.5 percentage points to 75%, according to an emailed statement. The move comes a day after data showed consumer prices jumped nearly 79% a year in August, the fastest pace in 30 years. It was the bank’s ninth rate hike this year.

https://finance.yahoo.com/news/argentina-hike-interest-rates-75-200117136.html

 

[TommyIV]

:bigeyes::bigeyes: Talk about perspective.. what a mess.