Growing at a rate of 7 to 8% annually, Brazil's booming economy is becoming an important market for key Chilean exports.
In a move that runs counter to the United States' Fed 600-billion-US-dollar liquidity injection to stimulate the economy the European Central Bank on Thursday kept its benchmark interest rate steady at 1%. This was the eighteenth consecutive month that ECB has frozen its main interest rate.
The Bank of England held UK interest rates at a record low and decided not to pump more money into the economy via quantitative easing (QE). The Thursday decision to make no change to policy comes after recent figures on the UK economy showed good growth.
European Central Bank President Jean-Claude Trichet said on Thursday he did not think the United States was actively trying to weaken the dollar by printing money, despite criticism from emerging economic powerhouses.
German Economy Minister Rainer Brüederle from the liberal FDP blasted the United States monetary expansive policy which is geared to prop the declining US economy with strong liquidity injections.
Asia and Latinamerica emerging economies anticipated that they would be implementing new measures to limit the inflow of capitals following on the United States Federal Reserve announcement that it would pump more liquidity into the faltering US economy.
Chile's central bank said on Thursday it would gradually raise foreign investment limits for pension funds to 80% from 60% as it seeks to counter the recent sharp appreciation of the Chilean Peso.
Uruguay is the highest positioned Latinamerican country in the 2010 list ranking the prosperity of 110 of the world’s nations by the London analytical centre Legatum Institute and its Legatum Prosperity Index.
Uruguay is the country in Latin America and the Caribbean which experienced the highest percentage increase in direct foreign investment during the first half of the year, according to the latest report from the United Nations Economic Commission for Latin America and the Caribbean, Cepal.
Brazil said on Wednesday it was worried by the US Federal Reserve's plan to buy billions more dollars in bonds, saying the US policy of easy money could lead countries to enact protectionist policies.