URUGUAY : Inflation Worries Spurs CBank To Raise Benchmark...to 9.25%.

http://en.mercopress.com/2012/12/29/uruguay-raises-basic-rate-to-9.25-inflation-the-key-risk-of-the-economy

     After October's inflation was tracked at 9.1%...the central bank decided to raise its benchmark interest rate for only the 2nd time in 2012...by 25 bps...to 9.25%.
     Annual inflation is pacing at 9.03%...well above the target level of 4-6%.
     Montevideo is worried about the influx of foreign capital seeking higher yields... especially since the ratings agencies have recently boosted the nation's credit worthiness.