Economy

Thursday, March 23rd 2023 - 10:45 UTC
Brazil central bank keeps rate unchanged despite Lula's government complaints, “the highest in the world”

The Brazilian Central kept interest rates unchanged for the fifth consecutive policy meeting on Wednesday, increasing concern and criticism from the government of president Lula da Silva. The bank's rate-setting committee, Copom, maintained its Selic benchmark interest rate at 13.75%. The decision, which defied intense pressure from the government of Lula da Silva, matched the expectations of analysts.
Thursday, March 23rd 2023 - 10:20 UTC
With prices continuing to rise, Bank of England expected to increase the basic rate to 4,25%

Following a surprise rise in UK consumer prices, the Bank of England is expected to increase interest rates for an 11th consecutive. Analysts think an increase in the Bank rate from 4% to 4.25% is the most likely outcome of the Monetary Policy Committee Thursday meeting later.
Thursday, March 23rd 2023 - 10:14 UTC
Brazil: Minister Haddad not happy about Selic rate remaining unchanged

Brazil's Finance Minister Fernando Haddad found the Monetary Policy Committee (Copom)'s decision to leave the basic Selic interest rate unchanged at 13.75% per year “very worrisome,” particularly because new increases were not ruled out for the near future, Agencia Brasil reported.
Wednesday, March 22nd 2023 - 10:35 UTC
Lula insists in criticizing central bank autonomy: current rate of 13,75% is “irresponsible”

Brazilian President Luiz Inacio Lula da Silva criticized on Tuesday the country's central bank, saying that an interest rate of 13.75% - its current level - is “irresponsible,” adding he will continue to fight the current level to stimulate the economy.
Wednesday, March 22nd 2023 - 10:35 UTC
Crucial week for the Fed's Powell and the US banking system

Several banking failures in the US this month have raised fears about the health of the financial system. The collapses follow a sharp rise in global borrowing costs, led by the US, which has shocked the world economy and raised worries about a painful downturn known as a recession.
Wednesday, March 22nd 2023 - 10:24 UTC
Massa to announce new measures as Argentine peso sinks against US dollar

With the informal exchange rate between the Argentine peso and the US dollar known as “blue” going up AR$ 8, and reaching a new record high of AR$ 394, Economy Minister Sergio Massa is planning a set of measures to reverse that trend. The new package is to be conveyed to businessmen and bankers over breakfast Wednesday before being announced.
Wednesday, March 22nd 2023 - 10:11 UTC
IDB loan for Uruguay to strengthen post-pandemic public policy and fiscal management

The Inter American Development Bank, IDB, president Illan Goldfajn and Uruguay's Economy and Finance Minister Azucena Arbeleche signed a US$ 145 million loan agreement for the Program to Strengthen Public Policy and Fiscal Management in Response to the Health and Economic Crisis
Wednesday, March 22nd 2023 - 10:11 UTC
Beijing authorities and financial system confirm Chinese economy rebound; PBC increases liquidity

China's economic rebound has been confirmed by a surge in market demand for short-term funds, with liquidity becoming tighter in the inter-banking system, according to the country's financial market data tracker gelonghui.com.
Wednesday, March 22nd 2023 - 10:05 UTC
UN Economic Commission for Latam and Caribbean celebrating 75th anniversary

The Economic Commission for Latin America and the Caribbean (ECLAC), in Santiago, Chile, is celebrating 75 years since its creation with a commitment to continue working for a more productive, inclusive and sustainable future for the region.
Monday, March 20th 2023 - 16:08 UTC
It’s the Banking Regulations, Stupid

By Antonio Floglia (*), LONDON – Rather than developing a robust understanding of the errors that led to the 2008 global financial crisis, politicians and the public demanded that supervisory authorities simply double down on regulation. So, that is what they did, and we are now seeing the results with the sudden collapse of Silicon Valley Bank.