Argentine Central Bank Slashes Repo Rate Amid Peso Rally (2)

Argentina’s central bank cut its one-day peso repo rate by 10 percentage points to 25%, according to two people with direct knowledge of the matter, temporarily stalling a rebound in the currency.

The new rate was reported through the SIOPEL platform, the country’s main electronic trading system, the people said. The one-day repo rate has become one of the central bank’s key monetary policy tools as it navigates persistent inflation pressures and swings in the exchange rate.

Following the decision, the peso weakened to 1,370 per dollar after briefly touching 1,330 per dollar earlier in the session. It rose back ...