The Brazilian central bank on Wednesday held interest rates at an all-time low despite a currency selloff, as widely anticipated, but said it could “gradually” raise them in the future if inflation expectations spike.Add your comment!
Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.2 comments
Argentina says consumer prices rose 3.9% in August, the highest rate so far this year. That brings the 12-month nationwide inflation rate to 34.4%, one of the world's highest.1 comment
Officials from the International Monetary Fund are in Argentina as part of talks to strengthen and accelerate a crisis loan package, the global lender said Wednesday. The IMF and Buenos Aires agreed in June on a three-year, US$50 billion rescue lending programme but Argentina has since asked for a more rapid disbursement.Add your comment!
Brazil's inflation eased more-than-expected in August as prices fell from the previous month, preliminary data from the statistical office IBGE showed Thursday. The consumer price index, IPCA, rose 4.19% year-on-year following a 4.48% in July. Economists had forecast a 4.29% inflation rate.
President Mauricio Macri unveiled plans on Monday to raise export taxes on grains and slash the number of government ministries in a bid to balance its budget next year, as Argentina seeks a deal with the IMF to accelerate a US$ 50 billion standby loan program.
Most emerging market currencies worldwide rallied on Tuesday after U.S. President Donald Trump criticized the head of the Federal Reserve for raising interest rates, while Brazil's Real fell to its lowest in more than two years on political concerns.
President Mauricio Macri, First Lady Juliana Awada and members of his cabinet attended on Monday, 9 July, the Argentine Independence Day celebrations in the Tucuman Historic House, where 202 years ago the emerging nation cut all ties as a Spanish colony.
Product shortages due to a truckers' strike lifted Brazil's inflation rate near the midpoint of the official target range in June, underlining the deep impact of the nationwide protests. Consumer prices tracked by the benchmark IPCA index rose 4.39% in the 12 months through June, government statistics agency IBGE said.
The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled it will be more aggressive about rate increases this year and next amid “strong” economic growth. The unanimous vote brings the federal funds rate to a range of 1.75 to 2%, but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4% rather than the 2.1% projected in March.