There’s an expectation that interest rates will go up in the UK this year, with the economy recovering and the Bank of England moving away from their ‘emergency’ footing. But what would it be like if interest rates here went up as high as 40%? That’s just happened in Argentina, with the central bank there hiking rates three times in just eight days. Interest rates in the South American country went from 33.25% to 40% with the latest rate rise, only a day after being hiked from 30.25%. Only a week earlier they stood at 27.25%.