From the BBC via The St. Kitts & Nevis Observer, August 12:
Argentina Int. Rate Hiked to 69.5% as Inflation Hits 20-Year High
Argentina’s central bank has raised its main rate of interest to 69.5% as it tries to contain soaring inflation.
The bank put up its 28-day benchmark rate by 9.5% percentage points, its second hike in as many weeks.
It comes as new figures showed inflation in the country had hit a 20-year high of over 70%.
The numbers dashed hopes that price rises had peaked after the latest US data showed that inflation had eased.
“The rise in the policy rate will help reduce inflation expectations for the remainder of the year,” the bank said in a statement.
The move came after the bank raised the rate by 8 percentage points two weeks ago and marks its eighth hike this year.....
....MUCH MORE
....Controlling soaring prices, tackling high debt levels and reining in government spending in South America’s second largest economy are at the top of the agenda for Argentina’s latest economy minister, Sergio Massa.
Mr Massa, who is the third person to hold the post since early last month, aims to calm inflation using a more conventional approach than his predecessors....
So, not an adherent of the Havenstein - Powell school of central banking.
