Argentina central bank hikes key rate to 133% as inflation worsens
Argentina central bank hikes key rate to 133% as inflation worsens
Argentina's central bank raised the country's benchmark interest rate to 133% from 118% on Thursday as inflation data came in worse than forecast, 10 days before voters go to the polls to choose a new president amid a deepening economic crisis.
So to make sure I'm understanding this, if you wanted to buy something in Argentina and took out a loan for 100,000 pesos, a year later you would have a loan balance of 233,000 pesos (minus whatever payments you made)?
That's wild.
but at the same time, due to hyperinflation, if you held on those 100,000 pesos for one year, next year they're worth the equivalent of 40,000 pesos of today
Hasn't Argentina been dealing with outrageous inflation for about a decade now?
Keep going. They've had inflation issues off and on for decades.
Viva mi patria querida. Argentina, reina de la inflacion.
Let’s just hope Milei wins
Milei quiere ser como Trump y Bolsonaro, y todos vimos lo que pasó con EEUU y Brasil. Necesitamos políticos que dejen de echarse la culpa entre ellos y se pongan a trabajar en conjunto para solucionar los problemas. Lamentablemente ninguno de los candidatos sirven para eso. Sin líderes decididos estamos condenados a seguir en la misma
Let's hope he doesn't win
Found the literal nazi who wants vulnerable people to die. Milei is bad and you should feel bad.