The Central Bank of Uruguay raised its benchmark policy rate by 75bps to 6.5% on its January 5th meeting, the highest since the return of the monetary policy rate in 2020, and anticipated further gradual rate hikes through 2022. It was the fourth consecutive hike, as the central bank aims to lower the country's inflation to the target of 3%-7%. While consumer inflation in Uruguay hit an eight-month high of 7.96% in December, the central bank has lowered the 24-month inflation projections to 6.55% from 6.97% expecting the higher borrowing costs will calm down the prices. At the same time, the monetary policy committee noted that the economic growth accelerated in the third quarter of 2021 and should continue to grow in the coming months, while unemployment has already recovered to pre-pandemic levels. . source: Banco Central del Uruguay

Interest Rate in Uruguay averaged 7.20 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 January of 2022.

Interest Rate in Uruguay is expected to be 7.00 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 6.25 percent in 2023 and 5.00 percent in 2024, according to our econometric models.

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Uruguay Monetary Policy Rate


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
6.50 5.75 10.00 4.50 2007 - 2022 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2021-07-16 06:00 PM 4.5% 4.5% 4.5%
2021-10-06 06:00 PM 5.25% 5% 5%
2022-01-06 12:00 AM 6.5% 5.75% 5.5%
2022-02-16 10:00 PM 6.5% 7%
2022-04-08 10:00 PM
2022-05-17 10:00 PM


Related Last Previous Unit Reference
Interest Rate 6.50 5.75 percent Jan/22
Interbank Rate 0.31 0.23 percent Dec/21
Money Supply M1 199153.00 200703.00 UYU Million Nov/21
Money Supply M0 71221.00 70083.00 UYU Million Nov/21
Money Supply M2 395719.00 401169.00 UYU Million Nov/21
Foreign Exchange Reserves 17128.20 17228.20 USD Million Nov/21
Loans to Private Sector 1208.15 1207.87 USD Thousand Nov/21
Central Bank Balance Sheet 128129.00 124110.00 UYU Million Aug/21