Exclusive-Uruguay central bank chief: rate cut likely in October as inflation cools

Published on: Friday 08 September 2023

Uruguay's central bank is likely to cut its benchmark interest rate again at its next monetary policy meeting in October as inflation has fallen to a near two-decade low, governor Diego Labat told Reuters on Friday. The South American country has led the region's pivot to rate cutting after sharp hikes by central banks around Latin America in recent years to rein in prices, an aggressive tightening cycle that helped many get inflation under control. "Interest rates today are at 10%, probably we can decrease rates in the next session, though it depends on the inflation path," Labat said in an interview at Uruguay's central bank in downtown Montevideo.

News source: https://finance.yahoo.com/news/exclusive-uruguay-central-bank-chief-180840941.html

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Exclusive-Uruguay central bank chief: rate cut likely in October as inflation cools