# Argentina seeks to tame inflation, peso with biggest rate hike since 2019 | Financial Post

> Argentina's central bank raised its benchmark interest rate by 10 percentage points to 91% on April 27, after a 300 basis point hike the week before. The move aims to curb inflation running at 104% and steady a black-market peso that has tumbled.

- Date: 2023-04-27 · published 2023-04-27T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/36673-argentina-seeks-to-tame-inflation-peso-with-biggest-rate-hike-since-2019
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Tighter monetary policy may slow domestic activity and reduce pressure on the peso, but it does little to restore export earnings lost to drought, so near-term Argentine meal and grain supply remains constrained.

## Read by commodity

- SBM: neutral
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-05-26 | [South Korea steps up inflation fight with back-to-back rate hikes](https://feedsoft.ai/events/41632-south-korea-steps-up-inflation-fight-with-back-to-back-rate-hikes.md) | -1.6% | +1.2% |
| SBM | 2025-04-22 | [Argentina's surprise peso strength tempers fears of inflation comeback \| Reuters](https://feedsoft.ai/events/25426-argentina-s-surprise-peso-strength-tempers-fears-of-inflation-comeback-reuters.md) | -2.2% | -1.7% |
| SBM | 2024-10-30 | [Argentina's Milei Taps Unseasonal Source in Search of Dollars: Shock Therapy \| Financial Post](https://feedsoft.ai/events/28129-argentina-s-milei-taps-unseasonal-source-in-search-of-dollars-shock-therapy.md) | -0.8% | -4.8% |
| SBM | 2020-08-25 | [Argentina debt deal should limit need for more controls, reduce peso gap- cenbank chief \| Financial Post](https://feedsoft.ai/events/51899-argentina-debt-deal-should-limit-need-for-more-controls-reduce-peso-gap-cenbank.md) | +5.4% | +16.7% |
| SBM | 2020-03-03 | [President Fernandez tries to slay Argentina’s inflation dragon \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/54375-president-fernandez-tries-to-slay-argentina-s-inflation-dragon-business-and.md) | -1.9% | +7.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/argentina-plans-huge-rate-hike-to-91-to-stem-peso-slide-inflation-source

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