Uruguay cuts 50bp as inflation falls
Headline and core readings are lowest for several years, as officials predict slight GDP decline
Uruguay’s central bank lowered its policy rate by 50 basis points on July 6, to 10.75%, in its second cut this year.
The Central Bank of Uruguay’s board acted in the face of a a sluggish economy and continued declines in inflation, now at its lowest level in several years. In a statement, it said it was “continuing the contractionary phase of monetary policy’.
In its press statement, the monetary policy committee, which advises the board, said inflation had returned to the 3–6% target range in
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