Stories for February 2010

Friday, February 5th 2010 - 03:19 UTC
IMF says monetary policy needs of “independent central banks”

The International Monetary Fund, IMF, made a public veiled reference to Argentina’s Central bank institutional crisis underlining the importance of having independent central banks for monetary policy all over the world.
Friday, February 5th 2010 - 02:57 UTC
Brazil’s dilemma: how to contain growth (inflation) in an electoral year

Brazil's Central Bank Monetary Policy Committee, Copom, expressed concern about inflation and advanced it was prepared to respond “promptly” according to the minutes from its meeting last week when it decided to maintain the basic interest rate at 8.75%.
Friday, February 5th 2010 - 02:45 UTC
Bernanke reaffirms Fed’s independence to ensure public confidence and stability

“The US Federal Reserve has been granted, both in law and in political tradition, considerable independence and autonomy. That independence serves important public objectives. Critically, it allows the Federal Open Market Committee to make monetary policy in the longer-term economic interests of the American people, rather than in the service of short-term political imperatives”.
Friday, February 5th 2010 - 02:39 UTC
World markets collapse on fears of Euro zone debt problems

Concerns about the US economy and the potential spread of debt problems in the Euro zone (Greece, Portugal and Spain) have led to large falls in world stock markets. US and key European markets lost more than 2% while those in Spain and Portugal fell by more than 5%.
Thursday, February 4th 2010 - 23:21 UTC
Trichet forecasts Euro zone recovery at moderate path but with bumps

The euro zone economy will continue to grow at a moderate pace but with bumps on its path to recovery, European Central Bank (ECB) President Jean-Claude Trichet said on Thursday.
Thursday, February 4th 2010 - 18:21 UTC
Costa Rica elects president and renews Legislative next Sunday

Costa Rica next Sunday will be electing a successor to president Oscar Arias out of nine hopefuls among which leading public opinion polls is his sponsored candidate, Laura Chinchilla, followed by Conservative Otto Guevara and Socialist Ottón Solis.
Thursday, February 4th 2010 - 18:16 UTC
Uruguay January prices pick up again and reach 0.93%

Prices in Uruguay surprised in January, showing signs of picking up again, driven in large part by higher medical costs, the latest salaries agreements and dearer vegetables according to data published earlier this week.
Thursday, February 4th 2010 - 18:09 UTC
Closer ties with France and other allies in UK’s forces future

The British Armed Services will have to rely more on France and other international allies as they face “tough choices” in the coming years, said UK Defence Secretary Bob Ainsworth on the launching of Government Green Paper that will pave the way for a full-scale strategic defence review after the General Election.
Thursday, February 4th 2010 - 17:58 UTC
Central bank can have operational autonomy but “it is not independent”

Argentina’s newly appointed Central Bank president Mercedes Marcó del Pont, said she “believes in the Central Bank' operational autonomy,” but expressed “it cannot be independent”. She also said they would “work rigorously and continue their policies to bring calm in the currency exchange market.”
Thursday, February 4th 2010 - 17:51 UTC
Brazil finally decides to purchase Dassault Rafale fighter planes

Brazil has agreed on a price to buy and assemble 36 Rafale fighter jets with French manufacturer Dassault after months of negotiations, a leading Brazilian newspaper reported on Thursday.