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Brazil surprises markets with rate hike
Brazil’s central bank surprised markets with a 0.5 percentage point increase in interest rates - double the amount most economists expected - bringing to an end more than two years of rate cuts
Brazil’s rating hopes hit debt hurdle
Brazil is Latin America’s largest economy and improvements in its macro-economic indicators over the past decade led many to assume that an investment grade rating was only a matter of time
Latin American growth set to fall
Economic growth in Latin America and the Caribbean is likely to slow this year and next, while the region’s banking and financial systems are at a growing risk, in spite of the ‘muted’ impact of the global credit crisis so far, according to an IMF report
Chile central bank intervenes in forex market
The ‘exceptional measure’, a response to the local peso’s sharp appreciation against the dollar, aims to strengthen liquidity in the economy and boost foreign reserves
Chile to invest $5.9bn in new sovereign fund
The Chilean government is to invest up to $5.9bn in international equities and corporate bonds as it seeks to diversify assets held in two funds set up as part of a counter-cyclical approach to economic policy
Peru welcomes investment grade rating
The BBB rating by Fitch for the Latin American country’s foreign currency debt follows an export-led surge in commodities and improved economic management
Brazil plans curbs on strengthening Real
Domestic demand fuels Brazil’s growth
Most economists believe Brazil will not have trouble shifting from a dependence on exports and foreign portfolio investment to one on domestic demand and foreign direct investment
Pace of investment disappoints Latin America
Trade flows between China and Latin America have exploded – from $8.2bn in 1999 to $70bn last year. Yet the expected flood of Chinese investment has yet to materialise, although Chinese companies have poured funds into Africa
Canadian asset bail out falters
A panel seeking to restructure Canada’s frozen asset-backed commercial paper market is struggling to persuade banks to provide billions of dollars in back-up funding
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