Uruguay holds interest rates steady at 5.75%
BCU says balance of risks to inflation are tilted “slightly upwards”
The Central Bank of Uruguay (BCU) held its benchmark interest rate steady at 5.75% for the second consecutive meeting.
In a statement the BCU’s monetary policy committee (Copom) said the conflict in the Middle East was keeping energy prices high amid volatility and inflationary pressures. Rising long-term interest rates were also creating a “less favourable” financial environment for emerging economies.
Annual headline inflation has undershot the central bank’s target of 4.5% (within a
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