Brazilian officials say inflation in January was the highest monthly jump in almost six years. The government's IBGE statistics bureau said that January inflation was 0.83%, the biggest monthly jump since April 2005, when inflation was 0.87%.
Brazil announces 50 billion Real (30 billion US dollars) cuts from this year’s budget as President Dilma Rousseff seeks to help the central bank contain inflation and lower some the world’s highest real interest rates.
Uruguay is considered a solid candidate to obtain “investment grade” given its strong economic fundamentals and these same factors make the country’s bonds issued in indexed units, UI, an attractive investment, according to a report from the investment bank JP Morgan published in the Montevideo press.
Floods in Australia have dragged business conditions particularly in Queensland to depths not seen since the global financial crisis, according to a local analysis that offered a more pessimistic view than the government’s assessments.
India is likely to take the fourth position in the global automotive market by 2015, according to a study conducted by Booz & Co. Currently that spot is held by Brazil, another emerging market, which is likely to give India a challenge.
Global commodity prices continue to be the main driver of inflation in both Brazil and Chile, according to the latest Latin America update report from Capital Economics.
Chile achieved a record year for exports in 2010, according to a report by ProChile. Exports in 2010 were valued to be 69.6 billion US dollars, up nearly 30% from the 2009 figure, 53.7 billion USD.
Argentina recovered the status of free of foot and mouth disease with vaccination in the “high vigilance” area along the so called “border belt” which limits with Bolivia, Brazil and Paraguay.
China's central bank said Tuesday it will increase key lending and deposit rates by a quarter percentage point, effective Wednesday. This is the third People’s Bank of China rise since last October, a move aimed at combating stubbornly high inflation.
The Egyptian government is struggling to finance itself as foreign investors pull out and the currency drops. It had to scale down a bond auction on Monday as state-owned banks failed to stump up enough cash.