Economy

Friday, December 7th 2007 - 20:00 UTC
Euro-zone rates unchanged in spite of inflation pressure

The European Central Bank left on Thursday interest rates unchanged at 4%, in line with analysts' expectations and in spite of strong short term upward pressure on inflation.
Friday, December 7th 2007 - 20:00 UTC
China's booming economy running out of spare capacity

China should let its currency rise faster to help it counter overheating in its booming economy, the Organization for Economic Cooperation and Development suggested in a report this week.
Thursday, December 6th 2007 - 20:00 UTC
Inflation's political and social impact rattles Beijing

China said Wednesday it would tighten monetary policy in 2008 for the first time in a decade, as it battles to rein in a soaring stock market and an overheated economy. The shift from “prudent” to “tight” is a move analysts consider “significant”, but no major details to support the announcement were delivered.
Thursday, December 6th 2007 - 20:00 UTC
Bank of England cuts rate to 5.5% on slow growth concern

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.
Thursday, December 6th 2007 - 20:00 UTC
Bush announces plan to shield vulnerable homeowners

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.
Tuesday, December 4th 2007 - 20:00 UTC
South America ready to launch two major regional projects

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.
Tuesday, December 4th 2007 - 20:00 UTC
Uruguay plans re-purchase of bonds maturing before 2012

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.
Tuesday, December 4th 2007 - 20:00 UTC
Bush and Garcia hail approval of US/Peru free trade agreement

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.
Tuesday, December 4th 2007 - 20:00 UTC
Chilean Central Bank has new president MIT educated

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.
Monday, December 3rd 2007 - 20:00 UTC
US Treasury Secretary optimistic about aid plan for homeowners

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.