RIO DE JANEIRO, BRAZIL - On May 17, the Central Bank of Uruguay (BCU) decided to increase the reference rate by 75 basis points to 9.25%. The decision of a seventh consecutive increase was communicated after the meeting of the regulator's Monetary Policy Committee (Copom); at the same time, the institution anticipated at least two new 50 basis point increases in upcoming meetings in the "gradual" entry into a "contractionary phase" of monetary policy.
"This increase allows . . .
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