Economy

• Thursday, June 9th 2011 - 22:41 UTC

  Brazil’s world’s leading chicken exporter in 2011, ahead of the United States

  

  Brazil is poised to overtake the United States for the first time ever, as the world’s leading exporter of chicken, with a third of global trade, according to the latest statistics from FAO released this week.

• Thursday, June 9th 2011 - 22:26 UTC

  IMF says US does not need additional monetary stimulus

  

  The Federal Reserve does not need to consider additional monetary policy stimulus as the world's largest economy is likely to pick up in coming quarters due to growth in exports and disposable incomes, IMF acting chief John Lipsky said.

• Thursday, June 9th 2011 - 20:31 UTC

  Chile’s economy forecasted to slow growth following 8.9% in first quarter

  

  After months of record-setting growth, experts expect Chile’s economy to slow. Analysts say that the 8.9% growth in the first quarter of 2011 will slow and the year will end with an overall growth of between 6 and 7% for the year.

• Thursday, June 9th 2011 - 19:49 UTC

  Bank of England leaves rates unchanged to bolster recovery

  

  The Bank of England’s Monetary Policy Committee voted Thursday to maintain the official Bank Rate paid on commercial bank reserves at the record low 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.

• Thursday, June 9th 2011 - 19:24 UTC

  Brazil hikes basic rate to 12.25% and further increases can be expected

  

  Brazil's central bank increased late Wednesday its benchmark interest rate for the fourth straight meeting after consumer prices exceeded the upper limit of its target range for the first time since 2005.

• Thursday, June 9th 2011 - 19:18 UTC

  Euro central bank expected to increase interest rates next month

  

  The European Central Bank (ECB) has signalled that it will raise interest rates next month, from 1.25%. Earlier on Thursday, the ECB kept rates unchanged for the second month in a row, after increasing them in April for the first time in almost two years.

• Thursday, June 9th 2011 - 14:19 UTC

  Montevideo and Buenos Aires flights cancelled as ash cloud remains over the area

  

  Flights from Uruguay’s main international airport Carrasco and from Buenos Aires busiest air terminals have been cancelled Thursday until further notice because of the volcanic ash cloud which again is hovering over the River Plate as winds have changed.

• Thursday, June 9th 2011 - 05:42 UTC

  OPEC fails to reach agreement on production targets for the first time in 20 years

  

  Oil rose for a third day in New York after OPEC failed to reach an agreement on production targets for the first time in at least 20 years and U.S. crude inventories fell more than analysts forecast.

• Thursday, June 9th 2011 - 04:20 UTC

  FAO forecasts world food prices are likely to remain high in 2011 and 2012

  

  Citing dwindling stocks and only small production increases for the majority of crops, a new United Nations report released Wednesday world food prices are likely to remain high for the rest of this year and into 2012.

• Thursday, June 9th 2011 - 02:54 UTC

  Pressed by outraged farmers EU increases compensation for E.coli outbreak losses

  

  Pressed hard by outraged farmers, the European Union farm chief on Wednesday increased his offer of compensation for the E. coli outbreak to Euro210 million.