The Central Bank of Uruguay raised its benchmark policy rate by 75 bps to 9.25% at its May 2022 meeting, following a 125-bps hike and in line with the central bank’s announcement in the previous two meetings. It was the fourth hike in 2022, as the central bank aims to bring both the inflation rate and inflation expectations back to target. Consumer prices jumped 9.37% over a year in April, little changed from the previous month’s 15-month peak of 9.38% and well above the 3-7% target. On the contrary, economic activity recovered to levels above pre-pandemic levels, which is reflected through good labour market indicators. source: Banco Central del Uruguay

Interest Rate in Uruguay averaged 7.24 percent from 2007 until 2022, reaching an all time high of 10 percent in January of 2009 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 2022.

Interest Rate in Uruguay is expected to be 9.25 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 9.25 percent in 2023 and 8.25 percent in 2024, according to our econometric models.

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Uruguay Monetary Policy Rate

Related Last Previous Unit Reference
Interest Rate 9.25 8.50 percent May 2022
Interbank Rate 2.02 1.65 percent May 2022
Money Supply M1 201444.00 204392.00 UYU Million Apr 2022
Money Supply M0 69503.00 69974.00 UYU Million Apr 2022
Money Supply M2 432089.00 434605.00 UYU Million Apr 2022
Foreign Exchange Reserves 16294.10 16635.10 USD Million Apr 2022
Loans to Private Sector 1208.28 1207.89 USD Thousand Apr 2022
Central Bank Balance Sheet 129039.00 134092.00 UYU Million Mar 2022

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
9.25 8.50 10.00 4.50 2007 - 2022 percent Daily