Economy

• Thursday, June 16th 2022 - 09:11 UTC

  US Fed raises rates to curb growing CPI

  

  The United States Federal Reserve Wednesday announced a 0.75% rate hike to between 1.5% and 1.75%, in a move to curb rising consumer prices. It is the first time since 1994 that the Fed has raised the rate this much.

• Thursday, June 16th 2022 - 07:39 UTC

  Brazil's central bank raises Selic rate to 13,75%, hoping to contain inflation

  

  Brazil's central bank raised its benchmark interest rate for the 11th straight time on Wednesday, bringing the Selic rate to 13,75%, in an attempt to contain inflation in Latin America’s biggest economy.

• Tuesday, June 14th 2022 - 10:25 UTC

  Brazil's trade balance positive, but below last year's figures

  

  Brazil's trade balance for the first five months of the year accumulates a surplus of US$ 25.128 billion, it was reported Monday.

• Tuesday, June 14th 2022 - 10:19 UTC

  Mercosur again divided on Ukraine conflict, Argentina and Brazil not in a WTO list condemning “aggression”

  

  Over 50 WTO members agreed a statement at the WTO's 12th Ministerial Conference (MC12), in full support of Ukraine, and condemning “aggression”. However, Mercosur was divided on the issue, while Uruguay and Paraguay figured among the over fifty, Argentina and Brazil were absent.

• Tuesday, June 14th 2022 - 09:26 UTC

  Brazilian team releases outlook ahead of BRICS Summit

  

  Brazil's Center for International Relations (CEBRI) Monday released a report on the country's expectations regarding its involvement in the BRICS (Brazil, Russia, India, China and South Africa) bloc.

• Monday, June 13th 2022 - 23:56 UTC

  Mercosur Summit scheduled for Asunción July 21

  

  Mercosur Foreign Ministers Monday agreed to hold the upcoming Summit of the Group in Asunción on July 21. It will be the first face-to-face encounter of all four regional leaders since all previous meetings involving all four current leaders were all held virtually due to the COVID-19 pandemic.

• Monday, June 13th 2022 - 10:40 UTC

  Uruguay, Brazil agree on zero-tariff for certain products

  

  While the spotlight at the Summit of the Americas was focused on heads of state not shaking hands and some countries being excluded, the Foreign Ministers of Uruguay and Brazil agreed on a zero tariff in free trade zones and special customs areas for an unlimited period of time.

• Friday, June 10th 2022 - 23:25 UTC

  Sharp increase reported in Argentine intra-Mercosur exports

  

  Argentina has recorded a sharp increase in intra-Mercosur exports, with trade reaching its highest figures in 7 years, it was reported in Buenos Aires. Intra-Mercosur trade during 2021 reached US$ 41 billion and achieved the highest value since 2014, while Argentine exports to the bloc exceeded US$ 14 billion, according to the CXXIII Meeting of the Common Market Group (GMC) in Asunción.

• Wednesday, June 8th 2022 - 09:49 UTC

  War in Ukraine to increase LatAm poverty, ECLAC foresees

  

  Poverty in Latin America will grow to 33.7% and extreme poverty to 14.9% this year as a direct consequence of the war between Russia and Ukraine, the Economic Commission for Latin America and the Caribbean (ECLAC) has warned.

• Wednesday, June 8th 2022 - 09:29 UTC

  BRICS countries agree to deepen financial, customs cooperation

  

  Following a virtual meeting Tuesday, dignitaries of all five BRICS nations (Brazil, Russia, India, China, and South Africa) have pledged to deepen financial and customs cooperation.