The Bank of England announced Thursday a 25 points cut in the key interest rate from 5.75 to 5.5% following on fears of a slowing UK economy. The decision came as the BoE tried to strike a balance between rising inflation and further evidence that the housing boom is slowing and consumer confidence deteriorating.
United States President George W Bush outlined plans on Thursday to freeze rates on sub-prime mortgages for five years to help people hit by the US housing market crisis.
Two major regional projects are scheduled to be launched on the second week of December in South America, designed to boost economic integration. Chile, Bolivia and Brazil will formally announce the start of construction work on the bi-oceanic corridor linking the three nations on December 11.
Uruguay announced the re-purchase of up to 500 million US dollars in international and domestic bonds in an operation that seeks to reduce its foreign currency debt and extend maturities.
The United States/Peru free trade agreement on Tuesday cleared Congress and was ready for President George W. Bush signature, a victory for the US and Peruvian embattled leaders.
Chilean president Michelle Bachelet on Monday named economist José De Gregorio as the new president of Chile's Central Bank (BC). De Gregorio, currently the BC's vice president, will replace Vittorio Corbo, whose term expires on December 6.
United States mortgage lenders and regulators are close to finalizing an aid plan for homeowners hit by the credit crunch, US Treasury Secretary Henry Paulson said on Monday during a housing conference in Washington.
The European Central Bank announced Friday it would continue to supply markets with sufficient liquidity until the end of the year to keep short term interest rates the closest possible to the reference rate.
The United Nations Food and Agriculture Organization (FAO) published its bi-annual Food Outlook forecasting that world meat production during 2007 will reach 278.3 MMT, which is 1% above 2006.
Less growth, more inflation, tougher decisions than so far but nothing catastrophic is the 2008 forecast of Spanish businesses that have strong investments in Latinamerica and are planning to further expand their positions.