May 8, 2018 / 8:25 PM / a year ago

Argentina central bank holds benchmark interest rate at 40 pct

BUENOS AIRES, May 8 (Reuters) - Argentina’s central bank held its benchmark interest rate at 40 percent on Tuesday, the rate it set in an off-cycle announcement on Friday to try to control a steep sell-off of the peso.

The bank said in a statement high-frequency indicators showed an improvement in core inflation in May. The bank said it could not rule out an impact on consumer prices from the weaker peso but said many of Argentina’s trading partners also had weaker currencies, mitigating the effect. (Reporting by Caroline Stauffer; Editing by Lisa Shumaker)

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