RIO DE JANEIRO, BRAZIL - The head of the Uruguayan central bank, Diego Labat, said he would continue to raise rates until there is a "convergence" between inflation expectations and the official target, between 3% and 6%.
The Central Bank of Uruguay (BCU) started the year early by raising the interest rate by 75 basis points (to 6.5%) last week and its head, Diego Labat, said that he plans to continue with the increases if necessary.
"The idea is to achieve the convergence of inflation expectations to the target range. To achieve this, we are going to tighten monetary policy . . .
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