Central Bank of Uruguay Raises Rate 75bps to 8.75%

The Banco Central del Uruguay increased its benchmark interest rate by 75 basis points to 8.75% from 8.00% previously. The Bank said [translated]: "the inflation rate has accelerated and expectations remain that inflation will be well above the target range, emphasizing the perception that price stability is the main concern in the current macroeconomic context. In order to provide a fee...