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World Business Report: First broadcast 2018/08/30 22:32 GMT: Argentina Raises Rates As Peso Plummets

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Argentina Raises Rates As Peso Plummets

First broadcast 2018/08/30 22:32 GMT

First broadcast 2018/08/30 22:32 GMT: Argentina Raises Rates As Peso Plummets

BBC World Service - World Business Report, Argentina Raises Rates As Peso Plummets

The peso declined despite the raising of a key interest rate to 60%.

Worries over global food and water supply will dominate the World Food Summit in Copenhagen

The value of Argentina's peso continued to fall on Thursday, plunging by more than 13% after a 7% drop a day earlier. The decline came despite the central bank's effort to stabilise the currency by raising a key interest rate to 60%. BBC South America Business Correspondent gives us the latest. Worries over global food and water supply will dominate the World Food Summit in Copenhagen. The BBC's Victoria Craig reports on how things are made worse with extreme temperatures around the globe - and why rising food prices and pressures on farmers are symptoms. Some states in the US have recently begun to end the practice of setting bail on an amount of money. California is doing just that and Tani Cantil-Sakauye, Chief Justice of California explains why.

(Photo: a wad of Pesos. Credit: AFP.)

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First broadcast 2018/08/30 22:32 GMT: Argentina Raises Rates As Peso Plummets

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