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 president-elect Dilma Rousseff gathered information and advised guerrilla groups bank hold-ups in the sixties when the country was ruled by a military dictatorship according to reports published Friday in O’Globo media group.
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.
London's Natural History Museum has suspended a planned expedition to a remote region of Paraguay after protests that it might disturb one of the world's last uncontacted tribes.
The “dangerous behaviour” of the presidents of Venezuela, Nicaragua, Bolivia and Ecuador shows “an undeniable link between the decline of democratic freedoms and human rights and the increase of tangible risks to the security of our region,” said US Congresswoman Ileana Ros-Lehtinen (R-Fl), a Cuban-American lawmaker.
Brazil’s ruling Workers Party main ally in Congress Brazilian Democratic Movement, PMDB, has formed its own legislative group hoping to dispute some of the most strategic posts in the new congress that takes office next January first.