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MercoPress, en Español

Montevideo, November 24th 2024 - 07:00 UTC

Economy

  • Friday, June 23rd 2023 - 07:05 UTC

    Bank of England raises the base rate to 5% given a stubborn inflation of 8,7%

    “The economy is doing better than expected, but inflation is still too high and we’ve got to deal with it,” Bank of England Governor Andrew Bailey said in a statement

    The Bank of England, contrary to market expectations of a 25 basis points hike, on Thursday surprised with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation.

  • Friday, June 23rd 2023 - 06:23 UTC

    Falklands cruise season 2022/23, almost 60,000 visitors but still 16% below 2019/20

    Expedition vessels provided an unusually high 29% of all arrivals, with 17,594 passengers. This is the highest percentage ever average being around 20% (Pic R. Goodwin))

    Figures from the last tourist season were presented to the Falkland Islands Tourist Board committee this week, and in her report, Executive Director Stephanie Middleton supplied statistics for several aspects of tourism in the Islands.

  • Thursday, June 22nd 2023 - 15:57 UTC

    Sigh of relief as Brazil leaves bank rate unchanged at 13,75%

    The bank said it expects the economy to slow over the rest of this year and removed language saying it won't hesitate to raise rates again if necessary

    Brazil's Central Bank left its benchmark interest rate unchanged but softened its tone regarding further efforts to slow inflation. The bank's monetary policy committee, Copom, left the key Selic rate at 13.75%, where it has stood since August after a series of consistent rate hikes aimed at slowing inflation.

  • Thursday, June 22nd 2023 - 15:55 UTC

    Fed's Powell questioned in Congress over inflation and bank regulation

    “Inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go,” Powell said on Capitol Hill.

    Since inflation in the United States is still excessive, most Federal Reserve officials expect to raise interest rates further this year this year, Chair Jerome Powell told a House committee on Wednesday, who also had to respond about alleged further banking regulations.

  • Thursday, June 22nd 2023 - 10:47 UTC

    Argentina did nothing to charge toll, Paraguay's Waterway Commission finds

    Argentina has not proven it has rendered any actual service to barges along the Parana River

    Paraguay's National Waterway Commission concluded that Argentina's technical explanations for charging tolls to vessels sailing through the Parana River between the Port of Santa Fe and the Confluence with the Paraguay River were inadequate and that there was no justification for such a unilateral measure, it was reported in Asunción.

  • Wednesday, June 21st 2023 - 10:59 UTC

    Chile's Central Bank cuts down growth projections

    Chile's economy will contract or, at best, grow at minimal levels this year

    According to the Chilean Central Bank's new projections, the South American country's economy will grow less than expected this year, it was reported Tuesday in Santiago.

  • Wednesday, June 21st 2023 - 04:34 UTC

    Short of US dollars, Argentina advances towards trading and hoarding in Yuan

    The fact that imports from China are paid in Yuan rather than dollars should help Argentina mitigate the loss of reserves in its central bank

    Argentina is increasing its use of Yuan to pay for imports from China, following the renewal and expansion of a currency swap agreement with Beijing. The use of the Chinese currency in bilateral trade amounted to 1.075 billion Yuan (US$ 150.5 million) in May this year. In the first ten business days of June, transactions worth 2.045 billion yuan ($286.3 million) were recorded, according to the Central Bank of Argentina Argentine Central Bank’s report on June 15.

  • Tuesday, June 20th 2023 - 10:00 UTC

    Bangladesh files formal request to join BRICS

    The note was filed after a meeting between Hasina and Ramaphosa in Geneva

    According to the Dhaka Tribune, the government of Bangladesh last week filed a note applying for membership to the BRICS bloc made up of Brazil, Russia, India, China, and South Africa. The application from Bangladesh, currently recognized as a “Friend of BRICS,” is expected to be discussed at the group's summit in South Africa in August.

  • Saturday, June 17th 2023 - 10:16 UTC

    Paraguay foreign trade rebounds in May, surplus of US$ 1,261 billion

    The Central Bank of Paraguay (BCP) reveals that exports in May 2023 reached a total value of US$ 7,174.9 million, marking a significant 26.9% increase

    The latest foreign trade report from the Central Bank of Paraguay (BCP) reveals that the country’s exports in May 2023 reached a total value of US$ 7,174.9 million, marking a significant 26.9% increase compared to the same month in the previous year.

  • Thursday, June 15th 2023 - 10:55 UTC

    Brazil: Haddad congratulates Congress and STF for better S&P ratings

    Haddad wants the Central Bank to lower the Selic interest rate

    Brazil's Finance Minister Fernando Haddad Wednesday said that the improved outlook by the risk rating agency Standard & Poor's (S&P) was due to the harmony between the branches of government, Agencia Brasil reported. In Haddad's view, National Congress and the Federal Supreme Court (STF) have an important role in the S&P's decision, but the Central Bank (BCB) needs to “join the effort” and start reducing the interest rates.