Uldis Rutkaste holds a Master's Degree in Economics from the University of Latvia and a Diploma in European Studies from the University of Southern Denmark, Odense.

Uldis Rutkaste started his career at the Bank of Latvia in 2002 as an economist of the Monetary Policy Department and was later promoted to the positions of a senior economist and chief economist. Before his employment at the Bank of Latvia, he worked at the Macroeconomic Analysis and Forecasting Division of the Economic Structural Policy Department of the Ministry of Economics of the Republic of Latvia.

At the Bank of Latvia, Uldis Rutkaste has a broad range of responsibilities, inter alia conducting applied research projects and participating in policy discussion with domestic and international institutions. His recent research activities focus on international trade and external competitiveness issues.