M.PRESS
Considering their histories...most South American nations are understandably nervous about inflation.
But...Montevideo's central bank drastically raised its benchmark rate...by 75 bps...to 8.75%...as inflation continued to roar ahead.
The small nation across the Rio Plata/River Plate from Buenos Aires...where inflation is unofficially 25% or higher annually...wants to prune its growth.
In November...inflation there jumped to 8.4% from 7.9% in October.
The central bank’s target inflation range is a more modest 4% to 6%.
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