Economy

Friday, February 29th 2008 - 21:00 UTC
Brazil's inflation falls to 7 month low; Real 26% stronger

Brazil's inflation index fell to a seven-month low in February mitigating concerns about an increase in interest rates to keep prices under control, which has been one of the driving forces of the administration of President Lula da Silva.
Friday, February 29th 2008 - 21:00 UTC
Containing Brazilian currency appreciation is costing billions

Brazil's central bank posted a loss of 47.5 billion reais (28.5 billion US dollars) in 2007, triple the amount in the prior year, because of efforts to slow the strong real's appreciation against the US dollar.
Thursday, February 28th 2008 - 21:00 UTC
German banker freezes Euro rate cut expectations

German Bank Governing president Axel Weber warned on Wednesday that the market's consensus on interest rate expectations in the Euro zone “clearly underestimates” inflation risks and does not match the assessment of a central bank that holds price stability as its main goal.
Thursday, February 28th 2008 - 21:00 UTC
Fearing inflation China tightens credit and absorbs liquidity

China's Central Bank cautioned it's ready to raise the interest rate as early as late March to check inflation, which may surge as high as 8.7% in the twelve months to February. As a consequence of the recent blizzards that destroyed crops, food prices this month could jump 6 to 7 percentage points over January.
Wednesday, February 27th 2008 - 21:00 UTC
Fed minutes reveal differences on interest rates cuts

Nine of Federal Reserve directors thought continued deterioration in financial markets and weakened economic conditions in the housing and labor markets needed the half percentage point cut to the discount rate last month.
Tuesday, February 26th 2008 - 21:00 UTC
Wheat prices soar on export restrictions and short supply

Wheat prices have hit a record level of 12 US dollars a bushel as supplies dwindle, raising concerns about growing food inflation. Investors fear that a shortage of high quality milling wheat will keep prices high for the cereal used in bread, pasta and other foods.
Tuesday, February 26th 2008 - 21:00 UTC
US recession fears see dollar collapse to 1.50 per Euro

The US dollar has fallen to a fresh record low against the Euro, after weak economic data renewed fears that the US economy may be facing a more serious recession than anticipated.
Monday, February 25th 2008 - 21:00 UTC
Argentine economy breaks production and job records

Argentine president Cristina Fernandez de Kirchner administration might have mid term energy problems incubating but the latest data indicates that the Argentine economy keeps steaming ahead with increased employment and record industrial production. Trade surplus in January was also unexpectedly high.
Monday, February 25th 2008 - 21:00 UTC
Brazil headed for annual record crop of 139.3 million tons

Brazil is expected to harvest 139.3 million tons of grains and oil seeds in the 2007/08 season, up 5.4% over the previous crop helped by limited diseases and the use of gene-modified seeds to grow stronger plants, said Agroconsult a Brazilian agriculture consultant company.
Monday, February 25th 2008 - 21:00 UTC
Inflation in Argentina “around 20%” says ex minister Lavagna

Argentina's former economy minister Roberto Lavagna claimed that inflation is “round 20%” departing from the government line that puts the index of rising prices at 8.5% for 2007.