Argentina’s central bank unexpectedly raised interest rates for the third time in eight days Friday in an attempt to prop up its faltering currency, as the country finds itself once again battling a financial crisis.
The central bank raised its main interest rate by 6.75 percentage points, following increases of 3 percentage points on Thursday and last Friday. The moves helped stabilize the peso Friday, but with a policy rate now at 40%, the prospects for economic growth are more uncertain.
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