Economy

• Tuesday, May 12th 2015 - 10:41 UTC

  In Chile when in difficulties turn right: former IMF deputy chief Finance minister

  

  In a move which has been interpreted as a right turn, economist Rodrigo Valdes was named as Chile's finance minister on Monday by President Michelle Bachelet, in a sweeping cabinet reshuffle in which four of her closest ministers were sacked or shifted into other roles. On Valdes' immediate to-do list is an upcoming 1.26 billion dollars international debt issue.

• Tuesday, May 12th 2015 - 06:25 UTC

  Argentina reacts to hedge funds attempt to block a fresh debt emission

  

  Argentina has launched a stinging attack on hedge funds attempting to block payment on last month's Bonar 24 debt issuance, stating that the petition shows the 'vulture funds' desperation following the successful auction.

• Monday, May 11th 2015 - 10:11 UTC

  Brazil's inflation eases in April but still well above central bank's target

  

  Brazil's consumer price inflation slowed in April, but not enough to prevent the 12-month rate from remaining well above the central bank's target. The consumer-price index, IPCA, rose 0.71% in April, compared with a rise of 1.32% in March, the Brazilian Institute of Geography and Statistics, or IBGE, said in its latest release.

• Monday, May 11th 2015 - 10:08 UTC

  China's cuts interest rates to reduce cost of borrowing and boost the economy

  

  China's central bank announced Sunday it would cut interest rates by 25 basis points as authorities seek to boost the flagging economy following a raft of data indicating a slowdown. The benchmark one-year lending rate would be reduced to 5.1% and the deposit rate to 2.25% from Monday, the People's Bank of China (PBoC) said on its website.

• Friday, May 8th 2015 - 08:13 UTC

  Fed warns stock market levels present 'potential dangers', but sees “no bubbles forming”

  

  The chair of the US Federal Reserve, Janet Yellen, has warned stock market levels present “potential dangers”, insisting current valuations, which have seen key US and UK indicators reach record levels, were “quite high”. However she did not see 'any bubbles forming'.

• Friday, May 8th 2015 - 07:48 UTC

  Brazil's central bank to continue increasing rate, with inflation on target at the end of 2016

  

  Brazil's central bank expects inflation to run above the official target this year and next, despite months of monetary tightening, signaling policymakers could maintain an aggressive pace of interest-rate hikes to lower stubborn prices. In the minutes of its April 29 rate-setting meeting, the bank said it would remain vigilant to ease persistently high inflation.

• Friday, May 8th 2015 - 07:37 UTC

  Argentina denies as 'inexact' any embargo on embassy bank funds in Belgium

  

  The Argentine government in a late release on Thursday strongly denied an 'inexact information' related to alleged embargos by speculative funds (or vulture funds) on bank accounts from the Argentine embassy and its staff, in Belgium, and said that the attempts to freeze 'embassy funds' are but a new extortion attempt and a clear procedure abuse which could be sanctioned by Belgian tribunals.

• Thursday, May 7th 2015 - 06:55 UTC

  Brazil wants to review Mercosur 'liberty' rules; sends strong public message to Argentina

  

  Brazil has proposed reviewing Mercosur rules so that its members can enjoy more 'liberty' to negotiate trade agreements with other blocks or third parties, because even when “Mercosur is an indissoluble marriage, this does mean that relations can't be discussed” and thus a 'different speeds' group should not be discarded.

• Thursday, May 7th 2015 - 06:48 UTC

  Purchase real estate prices in Brazil have fallen in first months of 2015

  

  Purchase real estate prices all over Brazil have fallen a combined 3.47% in real prices the first months of 2015 according to the Fipe-Zap index. The index collected real estate prices in twenty Brazilian cities and measured them against inflation, registering monthly price rises below inflation for the sixth time in a row.

• Thursday, May 7th 2015 - 06:08 UTC

  Brazil's industrial production continues to skid, 4,7% in twelve months

  

  Brazil's industrial production has dropped 4.7% in the last twelve months after slipping in March by 0.8% amid a sharp downturn in the country's economy, official figures showed Wednesday.