STXNEWS LATAM-Uruguay central bank to maintain inflation strategy

Mon Oct 7, 2013 5:11pm EDT

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Uruguay's central bank will maintain its current strategy for fighting inflation, which is "a central concern for economic policy," it said on Monday.

In July, the central bank abandoned the use of a single benchmark interest rate to fight inflation, using money supply variables to guide policy instead.

The new policy is yielding the expected results and the bank sees money in circulation rising at between 15 and 17 percent on an annual basis in the fourth quarter, the bank said in a statement released after its quarterly policy-setting meeting.

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