Economy

Thursday, December 4th 2014 - 05:03 UTC
Brazil raised the basic interest rate 50 basic points to 11.75%

Brazil's central bank on Wednesday raised its key interest rate by 50 basis points to 11.75%. The rise came on the back of a one quarter point rise just over a month ago which was the first since April and in the wake of populist Dilma Rousseff's re-election as president, who last week appointed a new finance team to tackle rising inflation.
Thursday, December 4th 2014 - 04:54 UTC
Pacific Alliance integrated stock markets, MILA, begins operations from Mexico

Mexico's stock exchange on Tuesday carried out its first operation as a member of the Latin American Integrated Market, or MILA, which connects it to bourses in Chile, Colombia and Peru, MILA said in a statement. The four countries are members of the Pacific Alliance an open market, pro business and foreign investment group created in 2012.
Wednesday, December 3rd 2014 - 09:31 UTC
Analysts anticipate 'painful adjustment' for Uruguay if there is a continuity of current policies

High inflation, relatively weak economic growth and an exhausted growth model are forecasted for Uruguayan president-elect Tabare Vazquez second administration as of next March, according to the latest report from two Capital Economics analysts.
Wednesday, December 3rd 2014 - 09:25 UTC
Russian ruble suffers its biggest one day skid since 1998

The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.
Wednesday, December 3rd 2014 - 08:32 UTC
China's factory activity falls faster than expected as the economy keeps cooling

China's factory activity slowed by more than expected in November, highlighting how a cooling economy is impacting its vast manufacturing sector. The official purchasing managers' index (PMI) dipped to 50.3 in November from October's 50.8, closer to the 50 point mark that separates growth from contraction. It was below the 50.6 level expected by economists.
Wednesday, December 3rd 2014 - 08:06 UTC
Brazil posts in November its worst trade monthly result in 20 years

Brazil posted a 2.35 billion dollars trade deficit in November, the country's worst monthly result in 20 years, and cementing its slide into the red for the year after a decade of surpluses.
Wednesday, December 3rd 2014 - 07:48 UTC
Latam forecasted to grow 2,2% in 2015, but this year will only average 1.1%

Economic growth in Latin America and the Caribbean will recover in 2015 and reach 2.2% on average, according to new estimates unveiled on Tuesday by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
Tuesday, December 2nd 2014 - 06:38 UTC
WTO celebrates major deal which puts trade negotiations 'back on track'

After many years of talking, the World Trade Organization (WTO) pulled off a major deal last week that the body said could boost global commerce by one trillion dollars annually. The deal is the first multilateral trade agreement in the organization’s 20-year history. Agreement has been difficult to reach because WTO deals require the unanimous backing of its 160 member countries.
Tuesday, December 2nd 2014 - 06:01 UTC
Rousseff names another market-friendly minister to her new cabinet

Brazilian President Dilma Rousseff has named business leader Armando Monteiro to head the industry and trade ministry in a new sign of more market-friendly policies as she tries to restore investor confidence and reignite economic growth.
Monday, December 1st 2014 - 08:19 UTC
Slow planting season cuts soybean production prospects for Brazil

US officials joined market analysts cutting Brazilian soybean production prospects thanks to a slow planting season, but maintained expectations of a, small, rise in exports to a record high.