May 22, 2018 / 8:19 PM / 5 months ago

Argentine central bank holds key rate unchanged at 40 pct

BUENOS AIRES, May 22 (Reuters) - Argentina's central bank held its reference rate steady at 40 percent on Tuesday, the monetary policy committee said in a statement, explaining that high rates were needed to contain inflationary pressure caused by the country's weak peso.

The local currency has fallen 15.5 percent so far in May to 24.5 per U.S. dollar.

Reporting by Hugh Bronstein Editing by Susan Thomas

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