The Central Bank of Uruguay left its benchmark policy rate on hold at 11.25% on May 2023, after cutting the rates by 25 bps in the previous meeting from its all-time record high. The bank mention that the annual inflation showed a slight increase to 7.61% in April from 7.33% in March, while 24-month inflation expectations remained at a level of 7.24%. In Uruguay, economic activity is expected to grow in the first quarter of the year, but not in the second quarter, which would be affected by the production supply shock as a result of the drought. They also acknowledged global risks of a slowdown in the growth of economic activity and the inflation trajectory which continues to evolve slowly downwards in the framework of commodity price stability and the re-establishment of global supply chains. source: Banco Central del Uruguay

Interest Rate in Uruguay averaged 7.64 percent from 2007 until 2023, reaching an all time high of 11.50 percent in December of 2022 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 June of 2023.

Interest Rate in Uruguay is expected to be 11.25 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 8.25 percent in 2024, according to our econometric models.

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Uruguay Monetary Policy Rate

Calendar GMT Actual Previous Consensus TEForecast
2023-02-15 10:00 PM 11.5% 11.5% 11.50%
2023-04-19 06:00 PM 11.25% 11.5% 11.5%
2023-05-16 08:15 PM 11.25% 11.25% 11.25%
2023-07-06 10:00 PM
2023-08-15 10:00 PM
2023-10-05 10:00 PM

Related Last Previous Unit Reference
Interest Rate 11.25 11.25 percent May 2023
Interbank Rate 5.37 5.19 percent Apr 2023
Money Supply M1 216428.00 225480.00 UYU Million Apr 2023
Money Supply M0 71571.00 76800.00 UYU Million Apr 2023
Money Supply M2 489415.00 517261.00 UYU Million Apr 2023
Foreign Exchange Reserves 15627.00 15560.00 USD Million Apr 2023
Loans to Private Sector 1227.66 1222.95 USD Thousand Apr 2023
Central Bank Balance Sheet 130627.00 165265.00 UYU Million Apr 2023

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
11.25 11.25 11.50 4.50 2007 - 2023 percent Daily