The Central bank of Argentina has decided to reduce the key interest rate by 20 basis points, reflecting the trend of slowing monthly inflation. According to the press release, the rate was reduced from 100% to 80% per annum, which was an unexpected step for experts and market analysts. Reports indicate that in January, consumer prices in the country increased by 20.6% compared to December, reaching an annual level of 254.2%, compared with 25.5% and 211.4% a month earlier. February inflation data, which will be published later on Tuesday, is expected to show a slowdown in monthly growth to 15% and an acceleration in the annual index to 282.1%. At morning trading on Tuesday, the exchange rate of the Argentine peso against the dollar remains almost unchanged. However, over the past three months, the US currency has strengthened against the peso by 131%, reaching 848 pesos per dollar.
