Former Federal Reserve Chairman Alan Greenspan downplayed the risk of a double-dip recession in the United States saying the domestic economy was in better shape compared to its European peers.
For the second time in a week Brazilian president Dilma Rousseff said the country was prepared for the global financial turbulence, but said a strengthened domestic market was crucial to overcome the tough times ahead.
Venezuelan July inflation, as measured by the national index INPC, came in on the high side of expectations at 2.7%, up from June.
“Visit Britain”, the UK's tourism authority, has pulled a video promoting Britain with the tag line You're Invited from adverts running alongside BBC iPlayer programs overseas, reports The Guardian.
The United Nations Economic Committee for Latin America and the Caribbean, ECLAC warned on Tuesday that markets’ volatility will “persist” particularly because of the default-threat from several European countries.
Latin American stocks bounced back on Tuesday after suffering their worst day since October 2008, but fears of a US recession and a deeper European debt crisis promise to keep markets edgy.
Asian markets rebounded after the US Federal Reserve said it will keep interest rates on hold and Wall Street had its best day in two years. The decision by the US central bank to keep rates at current levels until at least 2013 helped stem one of the biggest sell-offs in recent years.
China’s trade surplus surged to 31.5 billion dollars in July, the highest level in more than two years, as exports rose to a record. Exports climbed 20.4% from a year earlier while imports surged 22.9%, the Customs bureau said on its website Wednesday.
Argentina’s “Congress inflation index” reached 1.62% in July, confirming well over 23% for the last twelve months according to the latest release from the Lower House.
Inflation in China was higher than expected in July, despite a series of efforts by the government to rein in prices. Consumer prices in July rose 6.5% compared with the same month last year, the National Bureau of Statistics said.