BUENOS AIRES, April 27 — Argentina’s central bank could hike the benchmark interest rate as much as 1,000 basis points to 91 per cent, a source said today, looking to tame high inflation and steady the country’s peso currency which has tumbled in popular black markets.

"A rise of 1,000 basis points is expected and the Leliq TNA will go up to 91 per cent,” the source said. The bank hiked the rate last week 300 basis points to 81 per cent amid inflation running over 100per cent. "Today the BCRA (central bank) shakes up the rate.”

A second source, an adviser at the bank who asked not to be named as the discussions were ongoing, said the board was analysing another hike though did not say by how much. — Reuters