Uruguai Taxa De Juros

The Central Bank of Uruguay reduced its policy rate by 25 bps to 8.75% in August 2025, maintaining a contractionary stance to support the ongoing convergence of inflation toward the 4.5% target. Inflation stood at 4.53% in July, sitting at the objective after four consecutive monthly declines, while core inflation eased from 5.7% to 5.5% though the non-tradable component moderated only slowly. The BCU’s projections show inflation remaining around 4.5% over the policy horizon. At the global level, risks to inflation from trade tensions persist, although prospects for international growth showed a slight improvement compared with the previous Copom. The Board emphasized the consolidation of inflation around the target and the decline in average expectations, and said it would continue its cycle of rate cuts toward neutrality if domestic conditions, inflation developments and expectations, particularly business expectations, continue to evolve as projected.