Economy

• Sunday, September 6th 2009 - 18:33 UTC

  G20 vow to keep spending high

  

  The Group of 20 finance ministers have pledged to maintain stimulus measures such as extra government spending and low interest rates to boost the global economy.

• Saturday, September 5th 2009 - 13:17 UTC

  Argentine farmers end eight day boycott promising to “keep fighting”

  

  Argentine farmers marked on Friday the end of an eight-day sales boycott with rallies and marches promising to “keep fighting” in support of aid for peers suffering from the worst drought in decades and to eliminate the current export tariffs system which distorts production and threatens several crops.

• Saturday, September 5th 2009 - 13:06 UTC

  Leading economist Roubini warns of “U shaped” or “W shaped” recovery

  

  Leading economist Nouriel Roubini who predicted the global financial crisis said Friday in Italy that he expects a slow recovery for advanced economies, but emerging economies may experience a quicker more robust growth.

• Saturday, September 5th 2009 - 06:28 UTC

  US unemployment at record 9.7%, but some signs job cuts are easing

  

  United States job cuts in August reached 216,000 pushing the unemployment rate up to 9.7%, the highest since 1983, according to the Bureau of Labour Statistics. Since the start of the recession in December 2007, the US economy has shed 6.9 million jobs, the department said.

• Saturday, September 5th 2009 - 06:09 UTC

  Bank of England expands quantitative easing by £ 50 billion to £ 175 billion

  

  The Bank of England on Friday held interest rates at 0.5% as expected, but expanded its quantitative easing program by £50 billion to £175 billion. In a letter to the chancellor Alistair Darling, Bank of England governor Mervyn King said the move was essential to meet the central bank’s long term inflation target of 2% or 1% either side.

• Friday, September 4th 2009 - 12:57 UTC

  Recovery on sight, but bumpy road ahead, warns ECB chief

  

  The European Central Bank declared Thursday that the economic contraction in Europe is coming to an end and kept interest rates on hold at 1%. However, the ECB's president, Jean-Claude Trichet, warned the recovery will be bumpy, especially in the face of high unemployment in Europe which is now 9.5%.

• Friday, September 4th 2009 - 09:09 UTC

  In spite of August surge, Uruguay expects 2009 inflation to be below 7%

  

  Uruguay’s retail inflation jumped an unexpected 1.23% in August, the highest in the last 14 months, totalling 5.11% in eight months and 7.28% in the last twelve months. If the tendency is confirmed during the last four months of 2009, the consumer prices index would be above the Central Bank’s upper target of 7%.

• Thursday, September 3rd 2009 - 13:27 UTC

  Once Argentina “has done its homework”, IMF liquidity support comes overnight

  

  If Argentina compiles with its homework and has good relations with international financial organizations, “credit is granted overnight” said Olivier Blanchard, the International Monetary Fund Economic Counselor and Director of the IMF Research Department during his visit to Buenos Aires for a two day conference on monetary policies.

• Thursday, September 3rd 2009 - 13:23 UTC

  Uruguay’s economic policy and Mercosur links set to change predicts Moody’s

  

  The risk-rating agency Moody’s Economy anticipates that whoever wins in Uruguay’s October presidential election, the only certainty is that “there will be changes in economic policy” and in regional inter-action, including a review of Mercosur relations.

• Thursday, September 3rd 2009 - 13:18 UTC

  Brazil leaves rates unchanged confident of non-inflationary recovery

  

  Brazil's Central Bank decided on Wednesday to keep its benchmark lending rate unchanged at a record low 8.75%. The monetary policy committee, Copom, voted unanimously to leave the so-called Selic rate steady, in line with analysts' expectations.