In recent news, Argentina’s central bank has once again lowered its reference market rate from 70 to 60 percent. This decision was made due to improved conditions in the domestic economy, including a fiscal surplus and a contraction in inflation. The bank had previously lowered the rate two weeks prior from 80 to 70 percent due to decreased uncertainty and market consolidation. Since Javier Milei took office as president in December, the rate has decreased a total of four times from 133 percent to 100 percent, then to 80, 70, and now to 60.
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