Economy

Thursday, September 22nd 2022 - 09:04 UTC
Fed's Powell and the unfortunate costs of reducing inflation: third 75 basis points interest rate hike

Challenged by the highest level of inflation experienced in the US in over 40 years, the Federal Reserve decided on Wednesday a third consecutive interest rate hike of 75 basis points, bringing the benchmark rate up to a range of 3.0% to 3.25% from 2.25% to 2.50%.
Wednesday, September 21st 2022 - 18:57 UTC
Western Uruguayans concerned over Argentina's low prices

Uruguayan mayors along the country's western border have expressed their concern to President Luis Lacalle Pou as the informal exchange rate between the Argentine peso and the US dollar renders local businesses unprofitable since consumers do their shopping across the line.
Wednesday, September 21st 2022 - 09:43 UTC
Falklands and change of monarch: banknotes and coins, and stamps remain legal tender

Following the death of Her Majesty Queen Elizabeth II and the proclamation of King Charles III the Falkland Islands Government would like to reassure the public that all existing notes and coins with the face of Her Majesty will remain legal tender for some time. This will also be the case for all existing stamps.
Tuesday, September 20th 2022 - 10:18 UTC
US Fed and UK BoE expected to hike interest rates this week, but how far?

The United States Federal Reserve and the Bank of England this week are scheduled to hike interest rates steeply again in a bid to tame inflation. The two central banks are expected to look through recession fears and continue their fight against extraordinary price rises.
Tuesday, September 20th 2022 - 09:36 UTC
Key trade deal between Brazil, US signed

The governments of Brazil and the United States have signed a customs recognition agreement whereby companies from the South American country certified as authorized economic operators (AEO) will be able to export faster and with less red tape involved.
Tuesday, September 20th 2022 - 09:15 UTC
German recession forecasted to begin in the last quarter, Bundesbank report

“The signs of a recession of the German economy are multiplying,” reads the monthly report from the country's central bank, Bundesbank, adding “a slump that could last into next year”.
Monday, September 19th 2022 - 09:28 UTC
US, China, India, UK, Russia, the largest military spenders in 2021, SIPRI report

World military spending continued to grow in 2021, reaching an all-time high of US$ 2.1 trillion. This was the seventh consecutive year that spending increased, according to the latest data on military spending published by the Stockholm International Peace Research Institute (SIPRI).
Saturday, September 17th 2022 - 10:35 UTC
Will the Federal Reserve strangle Latin America again?

By Ernesto Talvi (*) – In the 1980s, the Federal Reserve’s dramatic interest-rate hikes led to a lost decade of economic growth in highly indebted Latin American countries. Today, however, the US itself is highly leveraged, which will make the Fed hesitant to pursue measures that imply severe collateral damage elsewhere.
Saturday, September 17th 2022 - 10:15 UTC
Uruguay's economy grows 7.7% in second quarter of 2022

In its National Accounts report published Friday, the Central Bank of Uruguay (BCU) announced that the country's economy had grown 7.7% in the second quarter of 2022 “mainly due to the high yields achieved in the soybean harvest.”
Saturday, September 17th 2022 - 10:04 UTC
Lula vows to tackle price of food if elected

Former Brazilian President Luiz Inácio Lula Da Silva (2003-2010), who remains the leading contender for next month's elections against the incumbent Jair Bolsonaro, said Friday that if he returns to the Planalto Palace, he will seek to lower the price of food.