Economy

• Friday, February 18th 2011 - 15:45 UTC

  Chile hikes rates but faces dilemma of imbalances and Peso appreciation

  

  The Central Bank of Chile (CBC) hiked interest rates by 25bps to 3.5% on Thursday night targeting growing economic imbalances and the threat of higher inflation, reports Capital Economics latest update.

• Friday, February 18th 2011 - 05:23 UTC

  European MPs warn about “a flood of meat imports” from Mercosur

  

  Members from the European Parliament representing rural constituencies have come out strongly against a possible trade deal between Europe and Mercosur arguing that an influx of meat imports could have a devastating impact on the EU beef industry.

• Friday, February 18th 2011 - 05:13 UTC

  US inflation pushed by food and fuel prices increases 0.4% in January

  

  United States prices rose 0.4% in January compared with the previous month, mostly due to rising food and fuel prices. The rate of change was the same as seen in December.

• Friday, February 18th 2011 - 04:55 UTC

  EU/Korea trade agreement effective next July; eliminates 98% of barriers

  

  Having pushed through a strong safeguard clause to protect European industry and received guarantees from Seoul that the new Korean legislation on car CO2 emission limits would not be detrimental to European car makers, the Parliament on gave its consent to the most ambitious trade agreement the EU has ever negotiated.

• Friday, February 18th 2011 - 04:51 UTC

  IMF calls for fiscal discipline and a “weaker dollar” ahead of G20 meeting

  

  The International Monetary Fund will warn G20 finance ministers this weekend of growing risks to the world economy from surging food prices and public finances while also advocating a somewhat weaker dollar.

• Thursday, February 17th 2011 - 23:09 UTC

  Bolivia’s powerful unions turn on President Morales to protest food prices

  

  Bolivia’s powerful Workers Union, COB, called for a 24 hours general strike Friday against the government of President Evo Morales to protest food and public transport price hikes.

• Thursday, February 17th 2011 - 23:01 UTC

  Good harvest year for Argentina farmers and the tax man, in spite of drought

  

  A good crop year for Argentine farmers and the government: export revenue will be up 4 billion US dollars and the tax man will bag an additional 888 million US dollars according to estimates from local grain dealers.

• Thursday, February 17th 2011 - 22:54 UTC

  Gold, silver, platinum soar on fears of growing inflation

  

  Gold rose Thursday to a one-month high as rising consumer prices in United States and the UK boosted investor demand for an inflation hedge. Silver touched a 30-year high.

• Thursday, February 17th 2011 - 22:50 UTC

  London beats New York, Tokyo and Paris as the leading shopping city

  

  London has beaten New York, Tokyo and Paris to become the world's highest grossing shopping city.
  The UK capital, which boasts more big-name stores than any other, had the highest retail sales last year, with shoppers spending £62.4billion.

• Thursday, February 17th 2011 - 22:30 UTC

  IMF head scheduled to visit Uruguay and Brazil next March; skips Argentina

  

  IMF Managing Director is scheduled to visit Uruguay next month where he will meet President Jose Mujica and his economic team before flying to Brazil. Dominique Strauss-Khan will arrive in Uruguay from Panama and is not scheduled to visit Argentina, according to Uruguayan government sources.