Central banks across the globe are struggling to rein in inflation, but it’s a particular problem in Argentina, where the annual inflation rate soared above 100% last month. That’s the highest level since the early 1990s, and currently, Venezuela and Zimbabwe are the only two countries experiencing higher inflation than Argentina, according to International Monetary Fund data.
He has been seen as a potential third-party candidate since incumbent President Alberto Fernandez announced last month that he won’t seek reelection, and Massa’s success is likely to be tied to the result of this inflation-battling plan. But the new rate hike is unlikely to bring any real change to Argentinian markets, analysts said.
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