Argentine central bank cuts reference rate.
Global Banking News-September 14, 2016--Argentine central bank cuts reference rate
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Global Banking News - 14 September 2016
The central bank of Argentina has said that it has cut its reference rate for the seventh consecutive week.
The central bank cut its 35-day reference rate by 50 basis points on Tuesday. This is the seventh cut in as many weeks as policymakers try to revive the local economy amid signs of lower inflation.
The bank cut the rate to 27.25 per cent, saying 'The monetary authority will continue proceeding cautiously, looking for the disinflation process observed in recent months to continue over time.'
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