Uruguay’s central bank cuts rates to tackle low inflation
BCU says disinflation is biggest risk, notwithstanding potential inflationary effect of Iran war
The Central Bank of Uruguay (BCU) has lowered rates by 75 basis points to 5.75% in a bid to tackle persistently low inflation.
“The underlying factors that have favoured the disinflationary scenario in Uruguay remain in place,” the bank said in a statement on March 3. The BCU had previously said that a weakening of the dollar, which has reduced the competitiveness of Uruguay’s exports, was one such factor.
The BCU has lowered rates seven times, from 9.25%, since it began its easing cycle last
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