October 25, 2017 / 3:28 PM / 2 months ago

Argentina bond prices fall after central bank hikes policy rate

BUENOS AIRES, Oct 25 (Reuters) - Argentina’s bond prices dropped on Wednesday following the central bank’s Tuesday evening decision to hike its policy rate to 27.75 percent. Bonds fell 0.7 percent on average, while the ‘par’ bond was down 1.7 percent.

“The fall in bonds is a mathematical question due to the increase in the interest rate,” said Pablo Besmedrisnik, director of the Invenomica consultancy. (Reporting by Walter Bianchi; Writing by Luc Cohen)

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