Uruguay continues programme of interest rate hikes
Central bank announced plans for two more increases at January meeting
The Central Bank of Uruguay’s board continued its tightening of monetary policy on February 16 with a 75 basis point rate increase.
The decision was the board’s fifth consecutive rise and brings the policy rate to 7.25%, 275bp above its figure last August.
At its January meeting, the central bank’s three-member board of directors had increased its upward pace, ordering its first 75bp increase. Previous increases in late 2021 had been of 25bp or 50bp.
The board, which comprises the governor
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