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BRASILIA (Reuters) – Brazil’s Congress approved its budgetary guidelines bill on Tuesday, setting the goal of eliminating the primary deficit by 2024, but including a provision allowing for a limited reduction in expenses even if it implies not achieving the fiscal goal. During a joint session, senators and deputies approved the proposal. President Luiz Inacio …

Brazil’s Congress approves government target to eliminate primary deficit in 2024 Read More »

By Nelson Bocanegra and Carlos Vargas BOGOTA (Reuters) -Colombia’s central bank cut the benchmark interest rate by 25 basis points to 13% on Tuesday to mark its first cut in more than three years, as policymakers sought to boost the ailing economy despite continued inflation pressures on some sectors. The decision was backed by five …

Colombia central bank cuts rate 25 basis points to 13% Read More »

PANAMA CITY (Reuters) – Panama’s economic growth next year is now estimated at about 2.5%, down “in light of new scenarios,” Economy and Finance Minister Hector Alexander said on Tuesday. Speaking at a 2024 draft budget presentation, Alexander said the reduced figure did not include inflation. Alexander did not give further detail on the reasoning …

Panama lowers 2024 economic growth estimate to about 2.5% Read More »

(Reuters) – The Bank of Japan maintained ultra-loose monetary settings on Tuesday in a widely expected move, underscoring policymakers’ preference to await more clues on whether wages will rise enough to keep inflation durably around its 2% target. Following are excerpts from BOJ Governor Kazuo Ueda’s comments at his post-meeting news conference, which was conducted …

BOJ Governor Ueda’s comments at news conference Read More »

By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund’s governing body has approved a 50% increase in quota resources to be contributed by member countries in proportion to their current IMF shareholding, bringing total quotas to $960 billion, the IMF said on Monday. It said the governors representing nearly 93% of the total voting …

IMF governors approve 50% increase in lending resources with no shareholding changes Read More »

BUENOS AIRES (Reuters) – Argentina’s central bank on Monday said it would switch its benchmark interest rate to the overnight reverse repo rate of 100% from the previous 28-day Leliq rate at 133%, a move aimed at simplifying monetary policy amid an economic crisis. “Starting from tomorrow, the bank’s monetary policy interest rate will become …

Argentina to switch benchmark interest rate to 1-day reverse repo Read More »

(Reuters) – The sharp rise in inflation that forced global central banks to drive up interest rates at the fastest pace in decades looks poised to continue to subside in coming months, though risks persist, World Bank economists said in a blog to be published Monday. Global demand is expected to moderate amid higher borrowing …

Goodbye, maybe, to the ‘great inflation scare’: World Bank blog Read More »

MEXICO CITY (Reuters) – Mexico’s main food retailers have agreed to maintain a deal with the government to limit the prices of 24 basic food staples in order to help tame inflation, a government official said on Monday. President Andres Manuel Lopez Obrador last week said the government was seeking to extend the 2022 pricing …

Mexican food retailers to maintain price limits on key staples -official Read More »