Argentina’s central bank cut its basic interest rate this Thursday (5) from 35% to 32%, as the country struggles to control a .
The cut marks the date of the libertarian president, in December 2023.
The central bank said in a statement that it based its decision on the “observed consolidation of lower inflation expectations.”
Milei presided over harsh spending cuts, with inflation rates falling, but as the economy entered recession.
The announcement was made shortly after the central bank published a survey of market expectations in which analysts reduced forecasts for this year’s inflation, predicting a rate of 118.8% by the end of the year.