Brazil's Central Bank Monetary Policy Committee, Copom, expressed concern about inflation and advanced it was prepared to respond “promptly” according to the minutes from its meeting last week when it decided to maintain the basic interest rate at 8.75%.
“The US Federal Reserve has been granted, both in law and in political tradition, considerable independence and autonomy. That independence serves important public objectives. Critically, it allows the Federal Open Market Committee to make monetary policy in the longer-term economic interests of the American people, rather than in the service of short-term political imperatives”.
Concerns about the US economy and the potential spread of debt problems in the Euro zone (Greece, Portugal and Spain) have led to large falls in world stock markets. US and key European markets lost more than 2% while those in Spain and Portugal fell by more than 5%.
Costa Rica next Sunday will be electing a successor to president Oscar Arias out of nine hopefuls among which leading public opinion polls is his sponsored candidate, Laura Chinchilla, followed by Conservative Otto Guevara and Socialist Ottón Solis.
The British Armed Services will have to rely more on France and other international allies as they face tough choices in the coming years, said UK Defence Secretary Bob Ainsworth on the launching of Government Green Paper that will pave the way for a full-scale strategic defence review after the General Election.
Argentina’s newly appointed Central Bank president Mercedes Marcó del Pont, said she believes in the Central Bank' operational autonomy, but expressed it cannot be independent. She also said they would work rigorously and continue their policies to bring calm in the currency exchange market.
Brazil has agreed on a price to buy and assemble 36 Rafale fighter jets with French manufacturer Dassault after months of negotiations, a leading Brazilian newspaper reported on Thursday.
A Green Paper posing fundamental questions for the future of the United Kingdom’s defence has been published Wednesday by the MoD, paving the way for a post-election (May) Strategic Defence Review (SDR).
Brazil, Latinamerica’s largest economy is feeling the consequences of China’s moves to rein in an overheated economy and global fears of asset bubbles in attractive fast developing economies. The strongest warning came this week from the Organization for Economic Cooperation and Development, OECD.
A leading US academic who has been praised by the head of the Bank of England has called for banks to be barred from gambling on the world markets. Speaking on Jeff Randall Live, Professor Laurence Kotlikoff argued that the days of casino banking should be ended for good.