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Uruguay is not likely to be able to bring its high inflation rate below 7.5 % during this year or in 2014, said Capital Economics in a report. Uruguay's annual inflation rate of around 8 % is currently the highest of Latin America's major inflation-targeting economies , is way above the central bank's 4-6 % target range, noted the London -based research firm. Despite current , plan...
Event The governor of the Banco Central del Uruguay (the Central Bank ), Mario Bergara , , the economy minister, Fernando Lorenzo , have announced a range of measures in an attempt to stem inflation , contain a potentially destabilising influx of portfolio capital from abroad. Analysis Capital controls in the form of reserve requirements have been expanded to include government ...
Kualalumpur: Here is the text of news released by official news agency Bernama on its website: Uruguay's trade deficit climbed to over a billion dollars in the 1st 4 months of the year compared to USUS Dollars 975 million in the same period a year ago. So far this year the fall in exports has been stronger than that of imports, which has led to the USUS Dollars 1.045 billion dollars...
Event The trade deficit narrowed during the Q1 of 2013, owing to a substantial year-on-year drop in imports of 9 %, which offset a 10 % decline in export profits. The data suggest that Uruguay may finally be feeling the effects of weak growth in Brazil , Argentina . Analysis A closer look at the data shows that Uruguay is still feeling the effects of the 2012 drought, w...
Data , charts: Quarterly data 2011 2012 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr Non-financial public Market finance (Ps m) Revenue 63,152 62,478 66,869 67,715 68,393 70,188 74,026 76,005 Expenditure 57,838 59,082 57,823 69,469 79,254 60,479 74,595 76,700...
Kualalumpur: Here is the text of news released by official news agency Bernama on its website: Uruguay consumer prices climbed 0.66 % during March totalling 3.59 % in the Q1 of the year , 8.54 % in the last twelve months, as reported by a Wednesday release from the National Stats Office, INE. March's percentage shows a deceleration in the increase of pric...
Event Real GDP grew by 4.7 % year on year in the Q4 of 2012, bringing full-year growth to 3.9 %. Analysis Uruguay has now posted 10 consecutive years of positive output since the 2003 crisis, making this 1 of the longest economic booms in the region's history. Although GDP slowed from 6.5 % in 2011, domestic demand remained firm. In particular, fixed investment continued to...
Event Consumer price inflation has continued to accelerate, from 8.7 % in January to 8.9 % in February, prompting the Banco Central del Uruguay (BCU, the Central Bank ) to raise marginal reserve requirements. Analysis Inflation is now well outside the Central Bank's target range of 4-6 %, damaging monetary policy credibility , contributing to the further upward drift of inflation expe...
The Institute of International Finance (IIF) expects 4 Latin American central banks to keep their current monetary policy rates intact during 2013, , 2 central banks to cut their rates. The central banks in Brazil , Chile , Peru , Mexico will stay on the sidelines for the remainder of the year, the institute said in a report. The monetary authorities in Chile , Peru , M...
The Institute of International Finance (IIF) expects 4 Latin American central banks to keep their current monetary policy rates intact during 2013, , 2 central banks to cut their rates. The central banks in Brazil , Chile , Peru , Mexico will stay on the sidelines for the remainder of the year, the institute said in a report. The monetary authorities in Chile , Peru , M...
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