Argentina central bank cuts interest rate to 40% as inflation cools

Argentina's central bank lowered its benchmark interest rate to 40% from 50% previously, an official told Reuters on Tuesday, as monthly inflation edges down in the South American country.

It is the fifth major cut to the key lending rate under libertarian President Javier Milei since the central bank changed the benchmark to the overnight rate of 100% in December, shortly after the new government took office.