Uruguay’s Central Financial institution Leads Latin America With First Fee Minimize

Uruguay grew to become the primary inflation-targeting nation in Latin America to begin reducing borrowing prices by chopping its benchmark rate of interest 1 / 4 level to 11.25% amid slowing inflation.

The central financial institution had lifted its key price 700 foundation factors to 11.5% between August 2021 and December 2022 as inflation accelerated to virtually 10% final yr. The financial authority’s transfer on Thursday marked its first price reduce because the central financial institution readopted a benchmark price as its predominant coverage instrument in September 2020.

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