Argentina's economy activity expanded strongly in September but at a slower pace than in previous months, according to a Friday release from the country’s Statistics Office, Indec.
President Cristina Fernández de Kirchner (CFK) ratified the current economic development model with strong government intervention and supported her position with the latest data on unemployment and growth.
The United States central bank chairman Ben Bernanke has criticised countries like China that run large trade surpluses. He said that by buying dollars, these countries were hurting the US recovery and the global economy with it.
China's central bank has raised the amount of money that lenders must keep in reserve, as it moves again to try to control the country's high inflation. The People's Bank of China said the reserve ratio would go up by a further 0.5 percentage points on 29 November.
Brazilian central bank president Henrique Meirelles will not accept any invitation to remain as head of the bank unless president-elect Dilma Rousseff gives him full guarantees of “absolute autonomy” in running the institution. He also rejects the idea of holding on the job during the first quarter of 2011 until a definitive successor is named.
Venezuela may formally devalue its currency “at least” 15% in early 2011, Barclays Capital said in a report sent via e-mail, changing its position after meetings with Finance Ministry and central bank officials in Caracas.
The UK Consumer Prices Index (CPI) inflation rate rose unexpectedly to 3.2% in October, official figures show, on the back of higher fuel prices. Analysts had expected the CPI figure to remain unchanged at 3.1%.
The Irish Republic's finance minister has said he feels no sense of shame over his country's economic record - but it now needs outside help. Brian Lenihan told broadcaster RTE the Republic had fought hard over the past two years for financial survival.
Inflation in the US slowed further in October, with core inflation - which excludes volatile food and fuel prices - up only 0.6% on a year ago. It is the lowest year-on-year increase on record, with core prices remaining unchanged for three months running.
The Russian government approved a three year (2011/2013) privatization plan paving the way for a sale of federal assets which could yield 1 trillion roubles (33 billion US dollars), Economic Development Minister Elvira Nabiullina said in Moscow following a cabinet meeting.