[ad_1]
July 13, 2018, 19:17 Montevideo, Jul 13 (PL) The Uruguayan Macroeconomic Coordination Committee has ratified the target range for inflation between three and seven to For this decision, the Monetary Policy Committee has made an badessment of the global, regional and national macroeconomic context, the statement said.
He appreciated that, from a global point of view, the strengthening of the dollar in a context of uncertainty, thus fundamentally the "protectionist measures" adopted by the major economies.
On the regional situation, it is said that this has become "more complex" because of the macroeconomic imbalances in Argentina and Brazil. the "uncertainty of the next electoral cycle in the latter country".
The Committee noted that this situation was causing price changes. It noted in this regard that the Uruguayan peso had accumulated a depreciation of 11% in the last quarter, a trend that has occurred in the past. global and regional scale. 19659003] This meant that the strengthening of the dollar and its direct impact on the prices of goods and the dynamics of some of the most volatile elements of the consumption basket, due to adverse weather conditions, had an impact on inflation at the end of June. Above the target range (8,11)
The note noted that the level of activity of the national economy continued to grow, but at a slower pace.
He also stressed the need to maintain "the contractual authority of the policy". monetary policy ", in order to influence the relevant transmission channels for the future evolution of inflation.
The Central Bank announced that the next meeting of the Monetary Policy Committee will be in October 2018 and said that during this period all available instruments will be used to maintain inflation and its expectations in the target range.
In addition to mitigating the transfer of international uncertainty to markets interiors, added
agp / jcd
