Uruguayan central bank makes second rate increase in a row
Central bank aims to end “expansive” monetary policy and guide inflation to target range
The Central Bank of Uruguay (BCU) raised its policy rate by 25 basis points on October 5, to 5.25%.
The decision is the BCU’s second rate increase this year, following a 50bp increase in August. The BCU cited both high inflation expectations and economic recuperation in explaining its decision.
The central bank said it detected “the consolidation of economic recovery” and spoke of “continuing with the gradual exit from the most expansive phase of monetary policy”.
It added that, barring
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