{"id":55,"date":"2012-03-30T16:31:00","date_gmt":"2012-03-30T20:31:00","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/03\/banco-central-del-uruguay-holds-interest-rate-at-8-75\/"},"modified":"2012-03-30T16:31:00","modified_gmt":"2012-03-30T20:31:00","slug":"banco-central-del-uruguay-holds-interest-rate-at-8-75","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/03\/30\/banco-central-del-uruguay-holds-interest-rate-at-8-75\/","title":{"rendered":"Banco Central del Uruguay Holds Interest Rate at 8.75%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span>The&nbsp;<a href=\"http:\/\/www.bcu.gub.uy\/Paginas\/Default.aspx\">Banco Central del Uruguay<\/a><\/span><span><span><span>&nbsp;held its benchmark interest rate unchanged at 8.75%. &nbsp;The Bank said [translated]: &#8220;In the Monetary Policy Committee, the Central Bank of Uruguay noted that the inflation rate has begun to sag, but still holds, as well as agents&#8217; expectations, well above the target range. Therefore, in order to provide a fee structure that preserves the contractionary bias of monetary policy, the Central Bank of Uruguay understood best not to change the monetary policy rate, which remains at 8.75%.&#8221;<\/span><\/span><br \/><span><\/span><\/span><br \/><a name='more'><\/a><span>Previously the Bank <a href=\"http:\/\/www.centralbanknews.info\/2011\/12\/central-bank-of-uruguay-raises-rate.html\">increased the interest rate<\/a><span> by 75 basis points in December, and&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/06\/uruguay-central-bank-increases-interest.html\">50 basis points<\/a><span>&nbsp;in June, and raised&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/uruguay-raises-reserve-requirements.html\">reserve requirements<\/a><span>&nbsp;for banks on peso deposits by 300 basis points to 15% and 300 basis points on foreign currency deposits to 18% during its May meeting. &nbsp;The Bank also increased its&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/03\/uruguay-central-bank-increases-rate.html\">interest rate<\/a><span>&nbsp;by 100 basis points to 7.50% at its March meeting. &nbsp;Uruguay reported inflation of 8.4% in November, compared to figures earlier in the year of 8.53% in May, up from 8.34% in April, and still above the Bank&#8217;s 4%-6% inflation target range (as set by the Macroeconomic Coordination Committee).<\/span><\/span><\/p>\n<div><span><br \/><\/span><\/div>\n<div><span>The Uruguayan peso (UYU) is more or less flat against the US dollar, with the USDUYU exchange rate last trading around 19.50; having traded as low as 18.30 around the middle of last year. The Central Bank of Uruguay next meets in June this year.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-5812460171304847787?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Banco Central del Uruguay&nbsp;held its benchmark interest rate unchanged at 8.75%. &nbsp;The Bank said [translated]: &#8220;In the Monetary Policy Committee, the Central Bank of Uruguay noted that the inflation rate has begun to sag, but still holds, as well as agents&#8217; expectations, well above the target range. Therefore, in order to provide a fee structure &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2012\/03\/30\/banco-central-del-uruguay-holds-interest-rate-at-8-75\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Banco Central del Uruguay Holds Interest Rate at 8.75%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-55","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/55","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=55"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/55\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=55"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=55"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=55"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}