Tag: Central Bank of Uruguay

• Saturday, October 8th 2022 - 10:16 UTC

  Uruguay launches stamp, announces coin commemorating Andes plane crash

  

  Uruguayan President Luis Lacalle Pou Friday took part in a ceremony marking the 50th anniversary of the so-called Andes tragedy, an airplane crash that made history since many victims survived after being left for dead.

• Saturday, September 17th 2022 - 10:15 UTC

  Uruguay's economy grows 7.7% in second quarter of 2022

  

  In its National Accounts report published Friday, the Central Bank of Uruguay (BCU) announced that the country's economy had grown 7.7% in the second quarter of 2022 “mainly due to the high yields achieved in the soybean harvest.”

• Wednesday, August 31st 2022 - 10:10 UTC

  Uruguayan economic growth expected to continue

  

  Uruguay's Central Bank (BCU) President Diego Labat said Tuesday that he expected economic growth to remain steady and heralded that inflation by the end of 2022 will be below the level “we have today.”

• Saturday, July 9th 2022 - 10:03 UTC

  Uruguay Central Bank raised interest rate policy 50 basis point to 9,75%

  

  Uruguay's Central Bank of Uruguay this week ordered a 50 basis point increase in the interest rate policy, the eighth straight increase since last August. The move, which brings the monetary policy rate to 9.75%, means the central bank has ordered 525bp of increases in total over the past 11 months. The 50bp hike was somewhat smaller than the four previous hikes, which included April’s 125bp increase and three 75bp hikes.

• Wednesday, May 18th 2022 - 09:58 UTC

  Uruguay central bank increases rate, anticipates a 'contractive monetary policy' to combat inflation

  

  Uruguay's central bank on Tuesday announced an increase of 75 basis points to 9,25%, in its monetary policy reference rate, meaning also the bank has entered the contractive phase, as so many other Latin American central banks, in an effort to rein in inflation.

• Thursday, March 24th 2022 - 09:31 UTC

  Uruguay's economy grows 4.4% in 2021, Central Bank says

  

  According to a study by Uruguay's Central Bank released Wednesday, the country's economy has grown 4.4% in 2021, despite all COVID-19 restrictions. The new figures show a recovery from 2020's fall due to the sanitary measures in force, which led to a decline in GDP of 5.9%.

• Wednesday, February 9th 2022 - 22:08 UTC

  No harm in Uruguay's banking system dollarized, Moody's report says

  

  Although 76% of deposits in Uruguayan banks are in US dollars, credit rating consultants Moody's have said there was nothing to fear.

• Tuesday, August 17th 2021 - 11:15 UTC

  Uruguay central bank raises “price of money” reference from 4,5% to 5%

  

  The Uruguayan central bank following the meeting of its Copom, Monetary Policy Committee, decided last week to raise the basic monetary policy rate from 4,5% to 5%, in line with what has been happening in other central banks in the region.

• Thursday, July 29th 2021 - 07:46 UTC

  Uruguay economy forecasted to grow 3,5% in 2021, with inflation above target, Central bank report

  

  The Uruguayan Central bank in its second-quarter Monetary Policy report forecasted a 3,5% expansion for the country's economy, the same as the estimate of the Finance ministry, but anticipated higher inflation because of an increase in public rates and commodities.

• Wednesday, July 14th 2021 - 09:00 UTC

  Uruguay central bank leaves reference rate unchanged waiting for stronger recovery signals

  

  The Uruguayan central bank is waiting for stronger signals of economic recovery before altering the current monetary policy, according to a release from the Monetary Policy Committee, Copom. In its third 2021 meeting, at the end of June, it ratified the current reference interest rate of 4,5% and anticipated it will wait for improved indicators from the pandemic battered economy.