Venezuela easily held to the dubious honour of being at the top of the list of the 2020 Global Economic Misery Index, while Argentina was merely seven notches behind.
Brazil's statistics agency IBGE said on Tuesday the monthly rate of producer price inflation kicked off this year at its second highest, with prices rising across all 24 activities surveyed.
A member of Bank of England's Monetary Policy Committee, Gertjan Vlieghe, openly supported the use of negative interest rates if the U.K. needs more stimulus, while Deputy Governor Dave Ramsden said the bank still had scope for more quantitative easing. which has been a tried and tested policy.
The Bank of England (BOE) told banks to start getting ready for negative interest rates but added that the message shouldn’t be taken as a signal that the policy is imminent. The BOE made the announcement as it held its key rate at a record low of 0.1%.
The outlook for Brazilian interest rates over the next two years rose to their highest in several months, a central bank survey of economists showed on Monday, even as exchange rate and inflation expectations held steady.
Producer price inflation in Brazil jumped to its highest on record in October, figures showed on Thursday, led by another month of rising food prices, which will likely stir the debate further on the wider outlook for inflation and interest rates.
The US has cut interest rates to almost zero and launched a US$ 700bn stimulus program in a bid to protect the economy from the effect of coronavirus. It is part of a coordinated action announced on Sunday in the UK, Japan, the Eurozone, Canada, and Switzerland.
The Bank of England (BOE), the UK's central bank, cut interest rates by 0.5 percentage points on Wednesday morning as part of an emergency response to the coronavirus, or COVID-19.
US central bankers last month dismissed the idea of taking interest rates into negative territory, something President Donald Trump has called for many times, according to meeting minutes released on Wednesday.
Brazilian consumer price inflation fell to its lowest in more than a year in September, official figures on Wednesday showed, a reading below the central bank’s target that is likely to strengthen expectations of another cut in interest rates.