Brazil's central bank on Monday tightened rules on credit card loans backed by wages and pensions which households are increasingly using as a source of long-term borrowing.
United States government and opposition senators are crafting a plan that could avert an unprecedented US government default if by next 2 August the national debt limit is not raised.
The Chilean central bank kept its benchmark interest rate unchanged this week for the first time since January as signs of slower growth abroad and a moderation in domestic output and demand provided space to delay additional increases.
Eight banks have failed Europe's bank stress test designed to assess whether they can weather another economic crisis while 16 banks barely passed, bank regulators said on Friday.
The cost of living in the United States fell in June, as a sharp drop in energy cost offset other price rises. Consumer prices fell 0.2%, their first monthly fall in a year; excluding energy and food, prices rose slightly. The annual inflation rate was 3.6%.
Brazil’s president Dilma Rousseff announced Thursday night the launching of a new plan aimed to boost and protect Brazilian industry against international competition and at the same called for a technological development leap forward.
Argentina’s trade relation with Brazil does not have restrictions and “it’s understandable that some differences surface” when bilateral trade will be reaching over 40 billion dollars this year, said Argentine Industry Ministry sources in Buenos Aires.
According to Argentina’s statistics office Indec consumer inflation was 0.7% pushed mostly by the cost of clothing. However private economic consulting offices estimate the index was double the official announcement.
The Argentine Central bank has purchased so far this week 500 million US dollars to ensure that the country’s exporters retain a favourable exchange rate and importers are not that tempted to buy foreign goods.
“Saving in US dollars or in soybeans is the same” cautioned Argentine economist Carlos Melconian, who argued that “grain and oilseed prices are more linked to the value of the dollar than to demand for food produce”.