The expectation in the financial market is that, after several increases in line with the international outlook, the Copom will finally suggest maintaining or lowering the rate. For analysts, proof of this is that the interests of the Letters in pesos have fallen in the last month.
The high rate made investment tools by weight objects more than attractive to investors and has influenced the sharp fall registered by the dollar exchange rate since last year and that remains so far this year, with a drop of almost 3%.
At the previous meeting of pmonetary policy dthe BCU, on December 30, recommended a rise of 25 basis points, which led to Uruguay to end 2022 with a rate of 11.5%. So, the members of the committee decided to continue monitoring the local and international situation so that the expectations and the inflation coincide in the target range of monetary policy.
Inflation has been evolving as expected by both the government and the monetary authority. Latest Consumer Price Index (CPI), which measures the monthly Statistics National Institute (INE), showed a value of 8.05% for January, the lowest since December 2021.
Source: Ambito
