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Argentina raises benchmark interest rate to 40%

BUENOS AIRES, Jan 6 (Reuters) - Argentina’s central bank on Thursday raised its “Leliq” interest rate by 2 percentage points to 40% and announced it would be redesigning its monetary policy to ensure macroeconomic stability.

The bank had been weighing a rate hike since last year, amid high inflation domestically and abroad. The interest rate had remained unchanged at 38% for most of 2021. Inflation hovers at around 50%. (Reporting by Jorge Otarola Editing by Chris Reese)

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