Rates round-up: tighter policy in Uruguay, Rwanda and French Pacific
Persistent inflation prompts further rate rises in emerging market economies
Uruguay: The Central Bank of Uruguay (BCU) raised its policy rate by 50 basis points, to 11.25%, on November 15. This marks the eleventh increase since the central bank began tightening in August 2021, for a total of 675 basis points of rises.
In a statement, the central bank said it was “maintaining the course of contractionary monetary policy”. The BCU first announced monetary policy had entered a “contractionary phase” at its May monetary policy meeting.
However, the BCU statement also
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