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The central bank raises interest rates by six percentage points in six days as the peso plummets.
Really interesting article about the state of the Argentinian economy, with news that the central bank has raised interest rates twice in a week, rates leaping from 27.25% to 33.25%.
Inflation has been a perennial problem in the country, and this move is designed to counter a depreciation of the peso. However, moves such as this can only work if investors have confidence in the ability of the central bank to arrest the slide; if it's interpreted as a sign of weakness the move might well have counter-intuitive effects.
Watch this space.