BUENOS AIRES—Argentina’s central bank on Dec. 5 removed the 60 percent floor on its benchmark interest rate, paving the way for it to reduce one of the highest borrowing rates in the world, which has strangled growth in Latin America’s third-biggest economy.
A central bank source declined to give a time frame for a potential interest rate cut and stressed that the bank would maintain a cautious monetary policy approach to safeguard against peso volatility.
