#Argentina’s @BancoCentral_AR kept its benchmark interest rate unchanged, at 28.75%, at its last meeting of the year. It’s a show of confidence in @fedesturze’s fight against inflation.
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But that interest rate is still high, and by strengthing the peso, it has hurt #Argentina’s export competitiveness and made imports cheaper. The result: a widening trade deficit that Itua says is heading to $8.5 billion for the year.