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Uruguayan Central Bank raises interest rate to 10.25%

On August 15, the Central Bank of Uruguay (BCU) raised the monetary policy rate (TPM) by 50 basis points to 10.25%, deepening a contractionary phase in the face of persistent inflationary pressures.

"The decision of the Monetary Policy Committee (COPOM) deepens the contractionary phase of monetary policy after assessing that the rigidity of agents' inflation expectations persists," states the BCU.

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