Rates round-up: Uruguay, Tunisia and Serbia tighten policy
Inflation fears prompt more rate hikes from central banks worldwide
Uruguay: The Central Bank of Uruguay (BCU) said the country is “entering the contractionary phase of monetary policy” on May 17, ordering a 75 basis point rate hike.
The increase is the eighth in as many meetings, bringing the monetary policy rate to 9.25%. Since last August, the central bank has more than doubled the headline rate from 4.5%.
Monetary policy-makers cited above-target inflation at home and high prices abroad in making their decision. Uruguay’s inflation rate remains well above
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More on Monetary policy decisions
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
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Policy-makers keep policy restrictive to tame inflation despite economic downturn
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Central bank stays put after headline inflation rises for two consecutive months
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Chile cuts rates for fourth consecutive meeting
Board forecasts inflation will return to 3% target in 2024
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
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