Uruguay cuts rates citing ‘gradual decrease in inflation’
Country becomes second in Latin America to start unwinding rate rises
The Central Bank of Uruguay (BCU) cut its policy rate by 25 basis points on April 19, becoming the second Latin American central bank to reduce rates this year.
The rate is now 11.25%, after it halted rate rises at its last meeting in February. Uruguayan policy-makers began raising the rate from 4.5% in August 2021, with the final increase, in December, bringing it to 11.5%.
The central bank cited a “gradual decrease in inflation in the last six months” and “the consolidation of a declining
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