Tag: Central Bank of Uruguay

• Friday, September 15th 2023 - 11:10 UTC

  Drought strikes: Uruguay's economy shrinks by 2.5% in Year-on-Year analysis

  

  The Central Bank of Uruguay has unveiled concerning economic data, revealing a 2.5% year-on-year decline in the country's Gross Domestic Product (GDP) for the second semester of 2023. The figures, released on Thursday, shed light on the adverse effects of the drought on Uruguay's economic landscape.

• Friday, March 31st 2023 - 16:04 UTC

  Two-thirds of high-net-worth individuals investing in Uruguay are Argentinean: see details

  

  The sector of investment advisors and portfolio managers in Uruguay grew in the number of clients and employees last year. This sector currently manages the money of 36,170 clients, 63% of whom are Argentine, with a total of US$ 28.93 billion invested in different instruments.

• Wednesday, March 29th 2023 - 10:58 UTC

  Uruguay's Executive to cover for Central Bank's deficit

  

  Uruguay's Executive Branch Tuesday admitted the Central Bank (BCU) reserves were below their legal threshold by Dec. 31, 2022, and a capitalization plan was therefore needed.

• Friday, December 16th 2022 - 09:35 UTC

  Uruguay's economy unchanged since second quarter of 2022

  

  Uruguay's Central Bank (BCU) Thursday issued a report showing the country's economy for the third trimester of 2022 “remained at similar levels to those of the second quarter of the year.”

• Tuesday, December 13th 2022 - 09:20 UTC

  Uruguayan exporters worried about falling US dollar

  

  The Uruguayan Exporters Union (UEU) Monday expressed its concern about the current parity between the local currency and the US dollar which was in its view affecting foreign trade.

• 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.