Economy

• Thursday, June 9th 2016 - 09:06 UTC

  Brazil's central bank leaves interest rate unchanged at 14.25%

  

  Brazil held interest rates steady for the seventh straight time on Wednesday, resisting pressure to slash borrowing costs amid a recession as inflation remains near double digits. In a unanimous vote, the central bank's monetary policy committee, Copom, decided at its last meeting led by governor Alexandre Tombini to keep its benchmark Selic rate at 14.25%, the highest in nearly a decade.

• Thursday, June 9th 2016 - 08:50 UTC

  Yellen says Brexit 'repercussions' would be considered in Fed’s meeting next week

  

  United Stated Federal Reserve chair Janet Yellen said a UK vote to leave the European Union could have “significant economic repercussions”. In a speech this week, she said a Brexit was one factor that the central bank would consider when deciding whether to raise interest rates. The Fed next meets on 14-15 June.

• Wednesday, June 8th 2016 - 08:21 UTC

  Euro skepticism spreads along the continent, shows Pew Research survey

  

  The European Union has suffered a “double dip” collapse in favorability in many member states since 2010, with many citizens across Europe demanding it return powers to them, according to research. A report from the Pew Research Center published Tuesday found that the British, who will vote on their future in the bloc on June 23, are not the only country with doubts about the EU.

• Tuesday, June 7th 2016 - 23:57 UTC

  Rate hikes likely, but some reports remain 'disappointing', admits Fed chief Yellen

  

  Reserve Chair Janet Yellen said on Monday that interest rate hikes are likely on the way because “positive economic forces have outweighed the negative” for the United States now that risks from earlier this year have diminished.

• Monday, June 6th 2016 - 11:01 UTC

  Support for Macri remains strong despite tough economic measures

  

  A majority of Argentines continue to support president Mauricio Macri despite a raft of unpopular measures, public utilities rate increases, inflation, redundancies and slower activity, which his administration has been forced to implement in the first six months of his mandate in an attempt to reorganize the country's economy.

• Monday, June 6th 2016 - 10:51 UTC

  Brazil's Lower House approves salary raises for military and civil servants

  

  The lower house of Brazil's Congress approved last week salary raises for military and civil servants that will cost about 4 billion reais (US$1.12 billion) this year, the lower house said through its official news agency.

• Monday, June 6th 2016 - 10:46 UTC

  Petrobras will have full independence to set domestic fuel prices

  

  Brazil's energy ministry said on Saturday it backed full independence for Petrobras to set domestic fuel prices, blaming past controls for saddling the state-controlled oil company with crippling debt that is the oil industry's largest.

• Saturday, June 4th 2016 - 10:54 UTC

  Argentina and Monsanto reach preliminary agreement on seeds and soy controls

  

  After weeks of crossed accusations, Argentina reached a preliminary deal with Monsanto, reportedly agreeing to cancel its controls on soybean shipments. Under the accord the Argentine government will be the one to carry out the inspections, as part of a proper framework for agriculture firms to be paid for royalties.

• Saturday, June 4th 2016 - 08:57 UTC

  YPF and ENAP agree to increase gas and oil production off Magellan Strait

  

  Argentina's YPF and Chile's Enap Sipetrol announced a joint project to expand the production of natural gas and crude from the offshore Magallanes Deposits, (PIAM), to the east of Magellan Strait Reserve. Representatives from Tierra del Fuego province and Magallanes Region, and from the two companies, attended the announcement ceremony.

• Friday, June 3rd 2016 - 09:13 UTC

  Temer's administration confident of congressional support for its economic plans

  

  President Michel Temer's will press ahead with ambitious plans to balance the budget, reform pensions and draw private money into the energy sector despite the loss of two ministers to a corruption scandal, his chief of staff said on Thursday.