Uruguay Keeps Key Rate at 5.75%

The Central Bank of Uruguay keeps its policy rate at 5.75% in April 2026, aiming to drive inflation toward the 4.5% annual target amid high global uncertainty.

Inflation stood at 2.94% in March, hitting the floor of the tolerance range due to falling food prices, while core inflation accelerated to 3.5%. Economic activity shows signs of improvement in the first quarter, driven by private consumption.

BCU projections suggest inflation will face upward pressure next year due to volatile oil prices and logistics costs stemming from the Middle East conflict. However, with analyst expectations anchored at 4.5% and firms at 5%.

The Board emphasized that monetary policy is in a solid position to monitor international risks and ensure inflation converges to the target as projected.