# Central Bank to boost rates by 600 basis points as inflation soars | Buenos Aires Times

> Argentina's central bank is set to raise its benchmark rate by 600 basis points to 97% as inflation accelerates. April inflation reached 108.8% year on year, the highest since 1991. The government also plans emergency measures to boost foreign exchange intervention and secure more international financing.

- Date: 2023-05-14 · published 2023-05-14T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/36241-central-bank-to-boost-rates-by-600-basis-points-as-inflation-soars-buenos-aires
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Very high rates and emergency FX intervention signal a fragile macro backdrop that can drive further peso weakness. Currency swings shape the dollar price Argentine exporters accept for oilseeds and meal.

## Read by commodity

- USDARS: bullish ▲

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/central-bank-to-boost-rates-by-600-basis-points-as-inflation-soars.phtml

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.