The Central Bank of Uruguay kept its benchmark interest rate unchanged at 5.75% at its May 2026 meeting, aiming to ensure inflation converges to the 4.5% target and to keep expectations anchored. Annual inflation stood at 3.16% in April, while core inflation reached 3.45%, continuing the convergence process toward the target. Two-year inflation expectations from analysts and financial markets remained anchored at 4.5%, while companies’ expectations stood at 5%, bringing the overall average to 4.67%. Globally, persistent conflict in the Middle East continued to keep energy prices elevated and volatile, while higher long-term interest rates created a less favorable environment for emerging markets. Domestically, available indicators pointed to a recovery in economic activity and employment in the first quarter, with moderate growth expected for the rest of the year. Still, the central bank noted that inflation risks had shifted slightly to the upside due to persistently high oil prices. source: Banco Central del Uruguay

The benchmark interest rate in Uruguay was last recorded at 5.75 percent. Interest Rate in Uruguay averaged 7.86 percent from 2007 until 2026, reaching an all time high of 11.50 percent in December of 2022 and a record low of 4.50 percent in September of 2020. This page provides - Uruguay Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Uruguay Monetary Policy Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2026.

The benchmark interest rate in Uruguay was last recorded at 5.75 percent. Interest Rate in Uruguay is expected to be 5.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uruguay Monetary Policy Rate is projected to trend around 5.75 percent in 2027 and 5.25 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-26 08:00 PM Interest Rate Decision 6.5% 7.5% 7.5%
2026-04-21 08:00 PM Interest Rate Decision 5.75% 6.5% 6.5%
2026-05-26 08:20 PM Interest Rate Decision 5.75% 5.75% 5.75%
2026-06-30 08:00 PM Interest Rate Decision 5.75% 5.75%
2026-08-18 08:00 PM Interest Rate Decision
2026-10-06 08:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Central Bank Balance Sheet 151103.00 197887.00 UYU Million May 2026
Foreign Exchange Reserves 18581.00 19669.00 USD Million Apr 2026
Interest Rate 5.75 5.75 percent May 2026
Loans to Private Sector 1400.90 1403.60 USD Thousand Apr 2026
Money Supply M0 89586.00 93375.00 UYU Million Apr 2026
Money Supply M1 268302.00 278806.00 UYU Million Apr 2026
Money Supply M2 719467.00 723560.00 UYU Million Apr 2026


Uruguay Monetary Policy Rate
The Central Bank of Uruguay reintroduced on September 3rd, 2020, the monetary policy rate after seven years of trying to control inflation through changes in the money supply. The central bank had abandoned the use of a single benchmark interest rate in 2013.
Actual Previous Highest Lowest Dates Unit Frequency
5.75 5.75 11.50 4.50 2007 - 2026 percent Daily

News Stream
Uruguay's Central Bank Holds Key Interest Rate at 5.75%
The Central Bank of Uruguay kept its benchmark interest rate unchanged at 5.75% at its May 2026 meeting, aiming to ensure inflation converges to the 4.5% target and to keep expectations anchored. Annual inflation stood at 3.16% in April, while core inflation reached 3.45%, continuing the convergence process toward the target. Two-year inflation expectations from analysts and financial markets remained anchored at 4.5%, while companies’ expectations stood at 5%, bringing the overall average to 4.67%. Globally, persistent conflict in the Middle East continued to keep energy prices elevated and volatile, while higher long-term interest rates created a less favorable environment for emerging markets. Domestically, available indicators pointed to a recovery in economic activity and employment in the first quarter, with moderate growth expected for the rest of the year. Still, the central bank noted that inflation risks had shifted slightly to the upside due to persistently high oil prices.
2026-05-26
Uruguay Keeps Key Rate at 5.75%
The Central Bank of Uruguay keeps its policy rate at 5.75% in April 2026, aiming to drive inflation toward the 4.5% annual target amid high global uncertainty. Inflation stood at 2.94% in March, hitting the floor of the tolerance range due to falling food prices, while core inflation accelerated to 3.5%. Economic activity shows signs of improvement in the first quarter, driven by private consumption. BCU projections suggest inflation will face upward pressure next year due to volatile oil prices and logistics costs stemming from the Middle East conflict. However, with analyst expectations anchored at 4.5% and firms at 5%. The Board emphasized that monetary policy is in a solid position to monitor international risks and ensure inflation converges to the target as projected.
2026-04-21
Uruguay Cuts Key Rate by 50bps to 7.5%
The Central Bank of Uruguay reduced its policy rate by 50 bps to 7.50% in December 2025, moderating its contractionary bias and moving gradually toward a neutral policy stance. Inflation stood at 4.1% in November, remaining below the 4.5% objective, while core inflation eased to 4.3%. The BCU’s projections show short-term inflation forecasts revised down versus the previous Copom and declining in the coming months, converging below the 4.5% target over the policy horizon amid weaker domestic import prices and a modest downward revision to activity due to regional conditions. The Board emphasized the consolidation of inflation around the target, with market and analyst expectations declining to about 4.6% and the average of expectations including firms falling to 4.9%, and said it would continue its cycle of rate cuts toward neutrality if domestic conditions, inflation developments and expectations continue to evolve as projected.
2025-12-23