Argentina hikes interest rate by 950 basis points to 69.5% as inflation hits 20-year high - CNBC

Inflation data underscored the urgency driving policy: Prices rose 7.4% in July, above expectations and pushing annual inflation to a 20-year high of 71%.

Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according… [+2109 chars]

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