BUENOS AIRES (Reuters) -Argentina's central bank cut its benchmark interest rate by 300 basis points to settle at 29%, it announced in a statement on Thursday, as inflation continues its downward path in South America's No. 2 economy.

Argentina’s Central Bank cut its benchmark interest rate by 300 basis points to 29 percent as inflation continues to slow in South America’s second-biggest economy. The bank’s board said the cut was due to reduced inflation expectations and that the new rate takes effect Friday, according to an emailed statement.

Traders and analysts expect Argentina's central bank to lower its benchmark interest rate as soon as Thursday, as inflation falls sharply and as the bank is set to slow the monthly pace of devaluation of the local peso currency.

Spain strengthens its historical role as a bridge between Europe and Latin America with the arrival of MERGE Buenos Aires, a

Brazil's central bank will raise its benchmark interest rate by 100 basis points on Jan. 29, with more to increases follow, taking the cost of borrowing to the highest in nearly two decades by mid-year,

Argentina’s central bank cut its benchmark interest rate by 300 basis points to 29% as inflation continues to slow in South America’s second-biggest economy.Most Read from BloombergManhattan’s Morning

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