Be glad you aren't living in Argentina...(Which, BTW is the 8th largest beef exporter in the world)
"The central bank boosted its benchmark Leliq rate by 5.5 percentage points to 75%, according to an emailed statement. The move comes a day after data showed consumer prices jumped nearly 79% a year in August, the fastest pace in 30 years. It was the bank’s ninth rate hike this year.....Economists surveyed by the central bank forecast inflation will accelerate to 95% by the end of the year."
https://finance.yahoo.com/news/argentina-hike-interest-rates-75-200117136.html
Argentina to Hike Interest Rates to 75% as Inflation Nears 100%
(Bloomberg) -- Argentina’s central bank raised its benchmark interest rate Thursday in a bid to prop up its currency and curb inflation nearing 100%."The central bank boosted its benchmark Leliq rate by 5.5 percentage points to 75%, according to an emailed statement. The move comes a day after data showed consumer prices jumped nearly 79% a year in August, the fastest pace in 30 years. It was the bank’s ninth rate hike this year.....Economists surveyed by the central bank forecast inflation will accelerate to 95% by the end of the year."
https://finance.yahoo.com/news/argentina-hike-interest-rates-75-200117136.html
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