Uruguay holds rates at 5.75% for third time in a row
BCU says there is no evidence of significant second-round effects from energy supply shock
The Central Bank of Uruguay (BCU) has held its benchmark interest rate at 5.75% in a unanimous decision for the third consecutive meeting.
In a statement on July 1, the BCU’s monetary policy committee (Copom) said the easing of geopolitical tensions in the Middle East had helped to “moderate global financial volatility and pressures on international energy prices”. Brent crude futures have fallen to around $70 a barrel, the lowest level in four months, as talks between the US and Iran continue
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