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Argentina's central bank removed the 60 percent floor on its benchmark interest rate, paving the way for lower rates. The peso weakened 2.08 percent to 38.20 per dollar on the announcement, and the trading band was tightened from 3 to 2 percent from 2019.
Lower domestic rates could ease the recession and boost local feed demand over time, while the peso move affects Argentine export pricing for soymeal and soyoil.
foxbusiness.comReutersDec 5, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
