Six members of the Bank of England’s nine-strong Monetary Policy Committee, including Governor Mervyn King, continued to oppose the minority campaign for an immediate rise in benchmark UK interest rates at the MPC’s meeting two weeks ago, minutes revealed Wednesday.
Private domestic demand was a crucial element in the 2010 performance of the Uruguayan economy that expanded 8.5%, for the eighth year running, according to the latest report from the Central bank. But inflation is also running well above target.
Goldman Sachs raised its forecast for Argentina’s economic growth in 2011 after the economy expanded last year at the fastest pace since 2005. Alberto Ramos Goldman Sachs economist raised the GDP expansion estimate to 6.8% from a previous 5.6%, according to an e-mail statement.
World lemon and orange juice production is set to grow while the crop of tangerines and grapefruits are forecasted to drop according to a citrus trade report from the US Department of Agriculture.
The Uruguayan economy completed in 2010 the eighth year running of expansion having recorded 8.5%, which together with 2008 and 1998 makes them the best three years of the last two decades. Uruguay managed to skip the 2009 global recession with a 2.9% expansion.
Brazil reaffirmed the significance of Mercosur for President Dilma Rousseff administration’s foreign policy and underlined the strategic relation with Argentina, Brazil’s main associate in the trade block.
Tokyo Electric Power (Tepco) will have to compensate farmers for losses caused by the nuclear radiation leaking from its power plants, Japan has said.
The UK Consumer Prices Index (CPI) annual rate of inflation has risen to 4.4%, up from 4% in January. This was driven by higher food, fuel and clothing costs and was the highest level for more than two years.
Ireland, supported by France keeps putting pressure to derail the ongoing trade talks between the European Union commission and Mercosur, reports the Dublin press.
Argentina’s 2010/2011 grains and oilseeds harvest is estimated to have reached 100.46 million tons, which is above last year’s according to the latest technical report from the Ministry of Agriculture released this week.