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.
Uruguay's Central Bank Friday released its report for the first quarter of 2021 which highlighted the entity's concern regarding “three relevant risks” in a growth scenario of just 3.5% this year.