Denmark has cut its key interest rate to prevent the Krone from strengthening in the wake of Switzerland's decision to scrap the franc's peg to the Euro. There has been speculation that Denmark could follow the Swiss move by removing the Krone's link to the Euro.
Brazil on Monday announced tax increases on fuel, imports and consumer loans aimed at raising 20.6 billion Reais (7.7bn dollars) in additional revenues this year. The plan is part of an effort to help balance budget accounts and revive investor confidence, Finance Minister Joaquim Levy said at a news conference.
Argentine President Cristina Fernandez met with Thomas Piketty at the Olivos official residence for two hours on Saturday as part of the French economist's tour of Latin America.
Argentina will not end its controls restricting access to foreign currency in the near term, Central Bank President Alejandro Vanoli was quoted as saying in an interview published on Sunday in the government supported newspaper Pagina 12.
President Obama is to use Tuesday's State of the Union speech to call for tax increases on the wealthy to help the middle class, officials say. The proposals would raise 320 billion dollars over a decade, to fund benefits such as tax credits.
Brazil's central bank is expected to raise interest rates for a third straight meeting this week to quell any doubts about its commitment to ending years of high inflation.
The World Trade Organization (WTO) ruling against Argentina triggers no immediate modification of the country’s trade administration, Cabinet Chief Jorge Capitanich pointed out adding a “comprehensive and detailed analysis of the ruling’s terms” is needed.
California is overtaking Brazil as the world’s seventh-largest economy, bolstered by rising employment, home values and personal and corporate income, a year after the US most-populous state surpassed Russia and Italy.
Bilateral trade between Mercosur two main partners, Brazil and Argentina (first and third largest economies in Latin America) dropped 21.2% last year and with a 139 million dollars deficit for Argentina, according to the Argentine Commerce Chamber, CAC.
The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency's value against the Euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits.