Uruguay holds rate for fourth consecutive time
Central bank projects inflation will remain within 3-6% target over coming two years
The Central Bank of Uruguay on August 16 held its policy rate at 8.5% following a slight rise in inflation last month.
Year-on-year inflation stood at 5.45% in July compared with 4.96% in June. However, the bank’s monetary policy committee (MPC) noted in a statement that the July figure remained within its target range of 3–6%.
The MPC added that the average inflation expectations over the coming two years had also fallen to 5.94%. July’s inflation figures, it said, were lower than expected.
It
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