Argentina's Interest Rate Skyrockets to Combat Inflation

Argentina's central bank has raised its base interest rate to 97% for the second time in less than a month as year-on-year inflation hit almost 109% in April. The government is expected to announce a series of measures to tackle the country's economic woes, including an intervention in the exchange rate and facilitating imports to bring down prices. The cost of living has risen by 31% since the start of the year.