Uruguay Unexpectedly Raises Rate as Inflation Accelerates
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Uruguay’s central bank unexpectedly boosted its benchmark interest rate to 8.75 percent today as policy makers affirmed their commitment to containing prices in the face of accelerating inflation.
The five-member Policy Committee, led by bank President Mario Bergara, raised the rate to 8.75 percent from 8 percent. The median estimate from five economists surveyed by Bloomberg was for the bank to hold the rate at 8 percent, and the highest estimate, from one analyst, was for an increase to 8.5 percent.