Argentina's most influential businessmen anticipate a stable to optimistic economic scenario for the next semester according to an opinion poll among 173 corporate CEO, a most unusual forecast in a country historically unstable when governments change.
A Chinese official sent the US dollar plunging in markets when he said China would shift more of its huge international reserves into stronger currencies such as the Euro to offset weak currencies like the dollar.
The Bank of England left UK interest rates unchanged at 5.75% for the fourth month running. The Thursday decision is likely to have been influenced by the surging oil price and the growing risk of inflation.
Despite the strength of the Euro which is closing on the 1.50 US dollar benchmark, the European Central Bank, ECB, left interest rates in the 13-nation Euro zone unchanged at 4% with a clear orientation towards maintaining price stability.
The consumers' prices index, CPI in Uruguay dropped 0.23% in October pushed down by the significant decrease in urban transport rates and health costs, both government managed prices.
October inflation in Argentina jumped 0.7% reaching 6.6% so far this year, while wholesale prices increased 0.9% and 12.7% in the last ten months according to the official release from Statistics and Census Institute.
Amid protests from farmers' organizations, Argentina increased taxes on exports of soybeans, corn and wheat an average of five percentage points to boost government revenue from surging crop prices and limit domestic food inflation.
Mercosur will request this week before the World Trade Organization, WTO, a 16% expansion in the number of sensitive industrial goods to be excluded from the consolidated tariff expected to be agreed during the Doha Round negotiations, which to all practical effects will mean an overall drop in external tariffs for out of the region imports.
Oil prices have risen to a record high above $97 a barrel, amid concerns over tight fuel stocks and a weak US dollar.
The chairman and chief executive of the Citigroup bank, Charles Prince, has resigned and will be replaces by former US Treasury Secretary Robert Rubin it was announced.