Economy

• Saturday, November 9th 2024 - 10:43 UTC

  BCP President says inflation no longer a problem

  

  Paraguayan Central Bank (BCP) President Carlos Carvallo said Friday in Luque at the Expo Paraguay Brazil convention that inflation in his country was no longer a concern. He made those remarks during his appearance at a panel titled “Inflation, currency, and macroeconomic challenges, and the BCP's strategic vision” at the event held at the South American Football Confederation's (Conmebol) headquarters.

• Friday, November 8th 2024 - 19:21 UTC

  US Federal Reserve cuts rate by 25 basis points, but future decisions to be conditioned by Trump and Republicans dominance

  

  The US Federal Reserve’s Open Market Committee cut interest rates by a quarter percentage point, on Thursday, the same week in which Donald Trump was swept in as elected president with a Legislative and Judicial branch packed with his conservative populists.

• Friday, November 8th 2024 - 19:17 UTC

  Bank of England cut the key interest rate to 4.75%, but anticipates a more cautious approach to further trims

  

  The Bank of England in an almost unanimous decision cut interest rates by 25 basis points on Thursday, a boost relief for mortgage holders, but also raised its inflation forecast following on Labor’s government budget and global uncertainty, which most probably conditions future policy easing.

• Thursday, November 7th 2024 - 10:25 UTC

  Brazil's Copom raises Selic rate to 11.25%

  

  The Monetary Policy Committee (Copom) of Brazil's Central Bank (BCB) Wednesday agreed unanimously to increase the economy's basic interest rate known as Selic by 0.5%age points to 11.25% per year, Agencia Brasil reported. The move was expected within financial circles given the recent rise in the exchange rate between the local real and the US dollar which provided for an inflationary context.

• Thursday, November 7th 2024 - 10:13 UTC

  Argentina's beef exports hit new records

  

  Beef exports from Argentina between January and September 2024 totaled US$ 2.122 billion, thus reaching its highest performance in the last 57 years, according to a report from the Economy Ministry's Agriculture, Livestock, and Fisheries Secretariat released Wednesday in Buenos Aires. Sales abroad amounted to 699,987 tons, it was also explained.

• Wednesday, November 6th 2024 - 19:37 UTC

  Slight increase in Uruguay wool exports, with a timid comeback of China, but overall outlook remains depressive

  

  In the first ten months of this year, Uruguayan exports of ovine goods reached US$ 158.2 million which is 7% below the same period last year, according to the latest figures from the Uruguayan Wool Secretariat, SUL. This is a slight improvement from the two previous months when exports were 10% and 13%, less than the same period a year ago.

• Friday, November 1st 2024 - 21:14 UTC

  Argentina's Central Bank lowers basic interest rate

  

  Given the significant fall in Argentina's inflation rate, the Central Bank (BCRA) announced Friday that it was lowering the basic interest rate from 40% to 35% in a move to “boost private credit.”

• Friday, November 1st 2024 - 10:55 UTC

  Wages in Uruguay grow 6.95% year-on-year, although real wages fall in September

  

  According to a report from Uruguay National Statistics Institute (INE) released Thursday in Montevideo, wages grew 6.95% in the last twelve months. The Average Wage Index (AWI) had a monthly variation of 0.07% in September for a 6.13% accumulated so far in 2024. In terms of categories, the private sector grew the most, with 7.20%, while the public sector showed an increase of 6.50%.

• Friday, November 1st 2024 - 10:23 UTC

  Brazil: Unemployment down in 3Q

  

  According to a report from Brazil’s Institute of Geography and Statistics (IBGE) released Thursday, unemployment in South America's largest country fell to 6.4 % in the third quarter of 2024 (from July to September), Agencia Brasil reported. These figures are 0.5 percentage points lower than between April and June, when it stood at 6.9%. Compared to July–September 2023, the drop is 1.3 percentage points. In that quarter, the rate was 7.7%.

• Thursday, October 31st 2024 - 19:21 UTC

  UK Office for Budget Responsibility, new government increases spending by £70bn annually for the next five years

  

  A quick analysis by the Chair from the UK Office for Budget Responsibility, Richard Hughes, on the Budget announced to Parliament on Wednesday by Chancellor of the Exchequer, Rachel Reeves MP.