Zimbabwe Drops World's Highest Interest Rate Title as Argentina Takes Over Top Spot
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Zimbabwe has yielded title of world's highest interest rate to Argentina after reducing its rate from 150% to 130%
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Zimbabwe took action to stimulate economic growth and anchor inflation/exchange rate expectations
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Argentina now has world's highest rate at 133% to combat soaring inflation
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Zimbabwe's currency depreciated 85% against US dollar from May-June, spurring inflation spike
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Government adopted measures like exchange rate liberalization to stabilize currency and restore price stability