# Argentina takes step toward lowering 60% interest rate | Fox Business

> 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.

- Date: 2018-12-05 · published 2018-12-05T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/61831-argentina-takes-step-toward-lowering-60-interest-rate-fox-business
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bullish ▲

## Sources

- foxbusiness.com: https://www.foxbusiness.com/economy/argentina-takes-step-toward-lowering-60-interest-rate

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