MercoPress. South Atlantic News Agency

Uruguay's BCU ups basic interest rate

Uruguay's Central Bank (BCU) Monetary Policy Committee decided Monday to raise the TPM benchmark interest rate from 8.5% to 8.75% in a move to make inflation and expectations “meet” at 4.5% annually over the last 24 months. It was the first twitch to the TPM since April when it was cut from from 9%. Read full article