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Exclusive-Uruguay central bank chief: rate cut likely in October as inflation cools

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Uruguay's central bank is likely to cut its benchmark interest rate again at its next monetary policy meeting in October as inflation has fallen to a near two-decade low, governor Diego Labat told Reuters on Friday. The South American country has led the region's pivot to rate cutting after sharp hikes by central banks around Latin America in recent years to rein in prices, an aggressive tightening cycle that helped many get inflation under control. 'Interest rates today are at 10%, probably we can decrease rates in the next session, though it depends on the inflation path,' Labat said in an interview at Uruguay's central bank in downtown Montevideo.

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TORONTO — One Bay Street economist says it's unlikely the housing market will flare up, despite the Bank of Canada's decision to keep its key interest rate on hold on Wednesday. Robert Kavcic, senior economist with BMO Capital Markets, said softer job markets, new listings on the housing market and a restrictive mortgage market are all working against the housing market this fall.

 

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