Uruguay cuts 50bp as inflation falls

Headline and core readings are lowest for several years, as officials predict slight GDP decline

Diego Labat at a press conference
Central Bank of Uruguay governor Diego Labat
MIEM Uruguay

Uruguay’s central bank lowered its policy rate by 50 basis points on July 6, to 10.75%, in its second cut this year.

The Central Bank of Uruguay’s board acted in the face of a a sluggish economy and continued declines in inflation, now at its lowest level in several years. In a statement, it said it was “continuing the contractionary phase of monetary policy’.

In its press statement, the monetary policy committee, which advises the board, said inflation had returned to the 3–6% target range in

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