Economy

Saturday, September 23rd 2023 - 12:09 UTC
Latin America’s Growth Conundrum

By Arminio Fraga, Guillermo Oritz and Andrés Velasco (*) – Since 1960, only a few countries in Latin America have narrowed the gap between their per capita income and that of the United States, while most of the region has lagged far behind. Making up for lost ground will require a coordinated effort, involving both technocratic tinkering and bold political leadership
Saturday, September 23rd 2023 - 12:04 UTC
Brazil central bank lowers interest rate for second month running

Brazil’s central bank this week lowered its interest rate by 50 basis points to 12.75% -- its second consecutive rate cut. Banco Central do Brasil last made a rate hike of 50 basis points in August 2022, carrying the rate to 13.75%, the highest since early 2017, and significantly up from a record low of 2% in March 2021.
Saturday, September 23rd 2023 - 11:52 UTC
US Fed leaves rates unchanged but anticipates one more rise in November

The Federal Reserve left its benchmark interest rate unchanged this week, pausing an aggressive inflation fight amid growing optimism that the United States can achieve normal price levels without falling into a recession.
Thursday, September 21st 2023 - 20:37 UTC
Falling prices for dairy and vegetables help a surprise fall in UK August inflation

Falling prices for milk, cheese, and vegetables helped drive a surprise fall in United Kingdom inflation in August, with prices now rising at their slowest rate in a year-and-a-half.
Thursday, September 21st 2023 - 20:23 UTC
In a tight vote, Bank of England leaves interest rates unchanged, still the highest for 15 years

The United Kingdom interest rates were left unchanged after the Bank of England said price rises were slowing faster than expected. Interest rates were held at 5.25%, already their highest for 15 years, and comes after figures on Wednesday revealed an unexpected slowdown in inflation in August.
Thursday, September 21st 2023 - 10:58 UTC
Unemployment falls in Argentina in 2Q, Indec says

Argentina's National Institute of Statistics and Census (Indec) released a report Wednesday showing that unemployment fell to 6.2% of the labor force in the second quarter of 2023, an improvement from the 6.9% recorded between January and March.
Wednesday, September 20th 2023 - 13:18 UTC
UK will have the highest inflation this year among G7 members, OECD report

Growth in the global economy is expected to remain “sub-par” next year, according to the Organization for Economic Cooperation and Development (OECD) which cut its forecast for 2024 from 2.9% to 2.7% on Tuesday.
Wednesday, September 20th 2023 - 08:17 UTC
Tories handing out cost of living winter support for millions of low income British households

Millions of low-income British households will receive the next installment of cost-of-living payments between 31 October and 19 November. Eight million people on means-tested benefits, such as Universal Credit, will receive £300 directly, without the need to make a claim. It is the second of three installments that will eventually total £900.
Friday, September 15th 2023 - 11:30 UTC
Massa announces VAT refunds and raffles to boost Argentina's economy

Argentina's Economy Minister and presidential candidate Sergio Massa Thursday announced a refund of the VAT paid on basic food basket items for 9 million workers. In a move to discourage unregistered transactions, he is willing to raffle cars and household appliances for retailers and customers, it was explained.
Friday, September 15th 2023 - 11:10 UTC
Drought strikes: Uruguay's economy shrinks by 2.5% in Year-on-Year analysis

The Central Bank of Uruguay has unveiled concerning economic data, revealing a 2.5% year-on-year decline in the country's Gross Domestic Product (GDP) for the second semester of 2023. The figures, released on Thursday, shed light on the adverse effects of the drought on Uruguay's economic landscape.