Uruguay holds rate for fourth consecutive time

Central bank projects inflation will remain within 3-6% target over coming two years

Central Bank of Uruguay
Central Bank of Uruguay
Central Bank of Uruguay

The Central Bank of Uruguay on August 16 held its policy rate at 8.5% following a slight rise in inflation last month.

Year-on-year inflation stood at 5.45% in July compared with 4.96% in June. However, the bank’s monetary policy committee (MPC) noted in a statement that the July figure remained within its target range of 3–6%.

The MPC added that the average inflation expectations over the coming two years had also fallen to 5.94%. July’s inflation figures, it said, were lower than expected.

It

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