The recent rise of the dollar in Argentina had some impact in Uruguay, where it has an accumulation of 7.4% in May. However, for the president of the Central Bank of Uruguay, Mario Bergara, the escalation only owes 20% to the exchange rate in Argentina and rather considers that Uruguay is accompanying global trends.Add your comment!
Argentina has much in common with yesterday's emerging markets, but little in common with today's12 comments
Brazil's inflation rate unexpectedly slowed in April and kept far below the official target, suggesting a recent period of currency weakness is unlikely to keep the central bank from cutting interest rates next week.Add your comment!
Argentina’s peso currency closed down 3.11% on Wednesday at an all-time low of 21.2 per U.S. dollar, even as the central bank continued selling dollars to try to halt the slide of the local currency, traders said. The currency’s sustained weakening showed a lack of investor confidence in Latin America’s third largest economy, which is blighted by one of the world’s highest inflation rates.
Argentina’s central bank held its benchmark interest rate at 27.25% on Tuesday, reiterating in a statement that high-frequency indicators suggested core inflation would remain high in April, but below March levels.
Brazil's monthly inflation rate slowed dramatically to a nine-month low in March, suggesting the central bank may have been too slow to signal another interest rate cut as the data continued to fall short of its inflation target.
Argentina's Consumer Price Index (CPI) rose by 1.8% in January 2018, after increasing 3.1% in December 2017, said the country's statistics office Indec. Despite the deceleration, the reading was higher than market expectations for the monthly consumer price inflation (+1.5%). The result was primarily influenced by higher costs for entertainment and culture (+3.5%).
The annual inflation rate in Brazil increased to 2.95% in December, from 2.50% in November, rising above economists' projections of 2.80%, but ending the year below the bottom of the central bank's target for 2017, which ranged from 3% to 6%.
Argentina changed its inflation target for 2018 to 15%, up from the central bank’s previous goal of 8-12%, Treasury Minister Nicolas Dujovne said on Thursday, raising expectations for interest rate cuts. The government will postpone by one year its goal of lowering inflation to 5%, pushing it back to 2020, Dujovne said.
Argentina's inflation during February reached 4.3%, according to the so called Congressional index, which is an average of private consultants and is released monthly by the opposition members from Lower House Freedom of Speech committee. This means inflation in the last twelve months in Argentina reached 34.8%.