Economy

• Wednesday, February 8th 2023 - 19:55 UTC

  British business sizes up global trade wins as Malaysia and Chile join Indo-Pacific bloc

  

  Malaysia and Chile have officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), meaning British businesses will get better access and lower tariffs in the Malaysian and Chilean markets when the UK joins the dynamic trade bloc.

• Wednesday, February 8th 2023 - 17:25 UTC

  Brazilian minister denies single currency: no death sentence for the Real

  

  Argentina and Brazil are looking at ways to stimulate bilateral trade and investments but not eliminate their own currencies, according to Brazilian Finance Minister Fernando Haddad, who played down the idea of a single shared currency between the two Mercosur partners.

• Wednesday, February 8th 2023 - 09:37 UTC

  Lithium provinces want a slice of huge revenues

  

  Argentina's Lithium Round Table convened Tuesday in Buenos Aires to discuss a proposal whereby the country would promote adding value to the extracting activity. The meeting was chaired by Jujuy Governor and Presidential hopeful Gerardo Morales, who warned that the participating provinces were being cast aside from the activity's large revenues.

• Monday, February 6th 2023 - 09:41 UTC

  FAO food commodity prices down in January, tenth month running

  

  The benchmark index of international food commodity prices declined in January for the tenth consecutive month, the Food and Agriculture Organization of the United Nations reported.

• Sunday, February 5th 2023 - 09:25 UTC

  BCRA's REM report forecasts 2023 inflation in Argentina will reach 97.6%

  

  With a Consumer Price Index (CPI) for January 2023 expected at 5.6%, Argentina's Central Bank (BCRA) issued a report Friday forecasting that inflation for the entire year would be 97.6% while the country's Gross Domestic Product (the sum of all services and goods traded) will only grow by 0.5%.

• Saturday, February 4th 2023 - 08:57 UTC

  WB appoints new country director for Argentina, Paraguay, and Uruguay

  

  The World Bank (WB) announced this week the appointment of US-French Economist Marianne Fay as its new Director for Argentina, Uruguay, and Paraguay to replace Jordan Schwartz, who will head the Eastern Europe division.

• Friday, February 3rd 2023 - 10:23 UTC

  Political crises might impact Latin America's economy, IMF team warns

  

  A technical team of the International Monetary Fund (IMF) has warned that political unrest in various regions of Latin America might have consequences for the economy since it would affect how the region is perceived worldwide.

• Friday, February 3rd 2023 - 10:20 UTC

  Aggressive ECB takes basic rate to 2,5%, anticipates another increase in March

  

  The European Central Bank increased its basic interest rate 50 basis point to 2,5% and anticipated it intended to hike by another 50 basis points in March. The move follows four hikes in 2022 which brought euro zone rates out of negative territory for the first time since 2014.

• Friday, February 3rd 2023 - 10:15 UTC

  Bank of England raises main rate to 4%, but anticipates a shallower recession

  

  The Bank of England Monetary Policy Committee on Thursday voted 7-2 in favor of hiking interest rates by 50 basis points with the main rate now at 4%. However the MCP indicated in its statement that smaller hikes and an eventual end to the hiking cycle may be in the cards in coming meetings. The two dissenting members voted to leave rates unchanged at this meeting.

• Thursday, February 2nd 2023 - 10:59 UTC

  Uruguay cattle breeders fear 'monopoly conditions' as Brazilian companies control most of the beef industry

  

  Brazil's protein producer giant Minerva Foods issued a note to the market communicating the purchase of state-of-the-art Breeders and Packers Uruguay (BPU Meat) abattoir and processing plant for USD 40 million. The conclusion of the deal is still pending approval by the Uruguayan authorities.