Economy

Wednesday, February 8th 2023 - 09:37 UTC
Lithium provinces want a slice of huge revenues

Argentina's Lithium Round Table convened Tuesday in Buenos Aires to discuss a proposal whereby the country would promote adding value to the extracting activity. The meeting was chaired by Jujuy Governor and Presidential hopeful Gerardo Morales, who warned that the participating provinces were being cast aside from the activity's large revenues.
Monday, February 6th 2023 - 09:41 UTC
FAO food commodity prices down in January, tenth month running

The benchmark index of international food commodity prices declined in January for the tenth consecutive month, the Food and Agriculture Organization of the United Nations reported.
Sunday, February 5th 2023 - 09:25 UTC
BCRA's REM report forecasts 2023 inflation in Argentina will reach 97.6%

With a Consumer Price Index (CPI) for January 2023 expected at 5.6%, Argentina's Central Bank (BCRA) issued a report Friday forecasting that inflation for the entire year would be 97.6% while the country's Gross Domestic Product (the sum of all services and goods traded) will only grow by 0.5%.
Saturday, February 4th 2023 - 08:57 UTC
WB appoints new country director for Argentina, Paraguay, and Uruguay

The World Bank (WB) announced this week the appointment of US-French Economist Marianne Fay as its new Director for Argentina, Uruguay, and Paraguay to replace Jordan Schwartz, who will head the Eastern Europe division.
Friday, February 3rd 2023 - 10:23 UTC
Political crises might impact Latin America's economy, IMF team warns

A technical team of the International Monetary Fund (IMF) has warned that political unrest in various regions of Latin America might have consequences for the economy since it would affect how the region is perceived worldwide.
Friday, February 3rd 2023 - 10:20 UTC
Aggressive ECB takes basic rate to 2,5%, anticipates another increase in March

The European Central Bank increased its basic interest rate 50 basis point to 2,5% and anticipated it intended to hike by another 50 basis points in March. The move follows four hikes in 2022 which brought euro zone rates out of negative territory for the first time since 2014.
Friday, February 3rd 2023 - 10:15 UTC
Bank of England raises main rate to 4%, but anticipates a shallower recession

The Bank of England Monetary Policy Committee on Thursday voted 7-2 in favor of hiking interest rates by 50 basis points with the main rate now at 4%. However the MCP indicated in its statement that smaller hikes and an eventual end to the hiking cycle may be in the cards in coming meetings. The two dissenting members voted to leave rates unchanged at this meeting.
Thursday, February 2nd 2023 - 10:59 UTC
Uruguay cattle breeders fear 'monopoly conditions' as Brazilian companies control most of the beef industry

Brazil's protein producer giant Minerva Foods issued a note to the market communicating the purchase of state-of-the-art Breeders and Packers Uruguay (BPU Meat) abattoir and processing plant for USD 40 million. The conclusion of the deal is still pending approval by the Uruguayan authorities.
Thursday, February 2nd 2023 - 10:28 UTC
Brazil Central Bank leaves benchmark rate unchanged at 13,75%; warns about fiscal policy

Brazil's Central Bank on Wednesday left the Selic benchmark interest rate at 13,75%, but in the adjoining release, the bank's rate setting committee, Copom said the high interest rate policy is expected to last longer than market expectations because of fiscal risks
Thursday, February 2nd 2023 - 10:21 UTC
Fed admits inflation cooling, but more evidence needed that “the disinflationary process has started”

The Federal Reserve following a two day meeting announced it decided on Wednesday to raise its key interest rate a quarter point arguing that although inflation is easing it is still too high, and did not discard further rate hikes could be needed since more evidence is needed to be confident inflation is in a sustained downward path. The increase was the eighth since March.