Tag: Central Bank of Uruguay

• Thursday, March 28th 2013 - 10:03 UTC

  Uruguay 2012 GDP expanded 3.9% boosted by construction and domestic demand

  

  Uruguay’s GDP expanded 3.9% last in 2012 over the previous year despite a slight contraction in the fourth quarter, according to a late Wednesday release from the Central bank. The bank’s original estimate was 4%. In 2011 the economy grew a revised 6.5%.

• Sunday, March 24th 2013 - 03:11 UTC

  Uruguay leaves benchmark rate unchanged; fears of slower economy and too strong Peso

  

  Uruguay’s central bank surprised the market by keeping on hold the benchmark interest rate at 9.25% after increases at the two previous monetary policy meetings failed to slow inflation, one of the country’s main concerns.

• Monday, March 18th 2013 - 20:36 UTC

  Uruguayan economy expanded between 3% and 3.5% last year says Central bank

  

  The Uruguayan economy expanded between 3% and 3.5% last year which is below the 5.7% of 2011, mostly because of a serious drought and a deteriorating world situation, advanced the country’s Central bank president Mario Bergara.

• Thursday, March 7th 2013 - 00:46 UTC

  Uruguay’s central bank acts to contain inflation out of target for three years running

  

  Uruguay's central bank announced on Wednesday it will raise marginal reserve requirements on local and foreign currency deposits from April 1 as part of its effort to bring inflation within the official target range, which has been missed in the last three years.

• Tuesday, March 5th 2013 - 05:29 UTC

  February inflation in Uruguay again above target: 8.89% in the last twelve months

  

  The Consumer Price Index, CPI, in Uruguay climbed 0.99% during February, accumulating 2.91% in the first two months of the year, and 8.89% in the last twelve months, far above the government’s target of 4% to 6%, according to the National Institute of Statistics, INE Monday release.

• Friday, February 8th 2013 - 06:51 UTC

  “No big deal with inflation, I grew up in a country with 70%/80% inflation”

  

  Two contrasting views have surfaced in the Uruguayan government regarding inflation which has been steadily climbing and seems so far immune to monetary tools, but is now the second highest in the region behind Argentina.

• Tuesday, February 5th 2013 - 06:25 UTC

  January inflation in Uruguay confirms strong hike tendency

  

  Inflation in Uruguay climbed 1.9% in January totalling 8.72% in the last twelve months, according to the latest release from the government’s stats office, INE. Last year twelve month inflation reached 7.48% and for this year the government established a target of 4% to 6%.

• Saturday, January 5th 2013 - 05:59 UTC

  Lowering the price of power, Uruguay ends 2012 with an inflation of 7.48%

  

  Consumer prices in Uruguay ended the year at 7.48% after recording the lowest December percentage in forty years: a negative 0.73%. However analysts and consultants anticipate that inflation in the first quarter of 2013 will remain above an annualized 8%.

• Thursday, January 3rd 2013 - 06:02 UTC

  Record purchase of US dollars to keep Uruguayan Peso from further appreciation

  

  Uruguay’s Central bank on Wednesday made its largest purchase of US dollars on record totalling 120 million dollars following on the bank’s monetary committee decision in the last week of 2012 to increase the basic rate to 9.25% as the country struggles to contain inflation.

• Saturday, December 29th 2012 - 04:07 UTC

  Uruguay raises basic rate to 9.25%: “inflation the key risk of the economy”

  

  Uruguay’s Central bank raised its benchmark interest rate on Friday for the second time this year as policy makers struggle to bring inflation into the government’s target range. The IMF and local economists have warned about the need to “tackle inflation”, particularly since the budget’s fiscal deficit has soared in just twelve months from 0.4% of GDP to over 3% of GDP.