Uruguayan central bank speeds up monetary tightening

Uruguay

The Uruguayan central bank’s board accelerated its monetary tightening on January 6, raising its policy rate 75 basis points to 6.5%.

This is the largest of its four consecutive rate hikes since August, which have cumulatively raised the benchmark rate by 200 points.

In its statement, the Central Bank of Uruguay (BCU) said that, given economic recovery and above-target inflation, it was “appropriate” to accentuate its efforts”.

The central bank said it anticipates “increases of a similar

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