World News

Argentina central bank cuts benchmark rate to 44%: statement

BUENOS AIRES (Reuters) – Argentina’s central bank lowered its benchmark interest rate to 44% from 48% on Thursday, it said in a statement.

The bank said it cut the rate as a result of a deceleration in inflation.

Earlier on Thursday, the official statistics agency reported that consumer prices rose 2.3% in January, marking a deceleration from a month earlier when consumer prices rose 3.7%.

(Reporting by Nicolas Misculin; Writing by Cassandra Garrison; Editing by Sandra Maler)