Reuters US Economy

By Marco Aquino, Brendan O’Boyle LIMA (Reuters) -The Central Reserve Bank of Peru forecast lower economic growth this year due to the impacts of months-long social unrest and torrential rains in March, with the bank’s chief saying he expected “zero percent” growth in the first quarter. A central bank report published on Friday lowered the …

Peru central bank sees lower 2023 growth, drop in mining investment due to protests Read More »

(Reuters) – Panama’s economic recovery has been “very strong,” but the outlook remains uncertain as growth is projected to slow to 5% this year, the International Monetary Fund (IMF) said Friday. Panama faces risks of new external shocks as well as vulnerabilities from its inclusion on the Financial Action Task Force grey list and potential …

Panama’s economic recovery strong, but growth to slow in 2023, IMF says Read More »

By Mayela Armas and Vivian Sequera CARACAS (Reuters) – Venezuela’s need for dollars to shore up its exchange rate and enable government largesse ahead of 2024 elections is among the motives for a crackdown on alleged corruption at state oil company PDVSA, four sources with knowledge of the matter said. The arrests this week of …

Venezuela need for dollars helped spark PDVSA graft probe -sources Read More »

(Reuters) – It’s an old saw: A credit crunch is when your bank won’t lend to you. A credit crisis is when banks won’t lend to each other. Federal Reserve Chair Jerome Powell said Wednesday Silicon Valley Bank’s collapse and the banking system upheaval it triggered “are likely to result in tighter credit conditions for …

The Fed sees a looming credit crunch. What’s that? Read More »

By Mike Dolan LONDON (Reuters) – The dollar could do with some cheering up. According to the ‘dollar smile’ theory developed by currency expert and now hedge fund manager Stephen Jen 20 years ago, the dollar typically appreciates both in times of great financial stress and great investor ebullience – but it sags in between. …

Column-Dollar’s smile looks a little lopsided :Mike Dolan Read More »

By Stephen Culp NEW YORK (Reuters) – Wall Street closed higher on Thursday as market participants were reassured by U.S. Treasury Secretary Janet Yellen’s reassurances that measures will be taken to keep Americans’ deposits safe. All three major U.S. stock indexes reversed an earlier rally, turning red before clawing their way back to positive territory …

Wall St ends higher as Yellen vows actions to safeguard deposits Read More »

(Reuters) -Colombia’s economy is currently undergoing a transition toward a more sustainable growth path, the International Monetary Fund said Thursday, highlighting tightened macroeconomic policies, slowing global growth and higher borrowing costs. A “necessary” cooling of Colombia’s economy would help bring inflation toward the central bank’s target by the end of 2024 and narrow the current …

Colombian economy headed to more sustainable growth path, IMF says Read More »

By John O’Donnell and Alexandra Schwarz-Goerlich VIENNA (Reuters) – The European Central Bank is pressing Austria’s Raiffeisen Bank International to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters. The pressure comes after a top U.S. sanctions official raised concerns about Raiffeisen’s business in Russia on a visit …

Exclusive-ECB pressures Austria’s Raiffeisen bank to quit Russia -sources Read More »

By Marcela Ayres BRASILIA (Reuters) -The Brazilian stock market deepened losses on Thursday after the country’s central bank decision to maintain a hawkish stance triggered further criticism from leftist President Luiz Inacio Lula da Silva. Concerned with rising inflation expectations, policymakers held the benchmark Selic rate at a six-year high of 13.75% on Wednesday for …

Brazil stocks fall on Lula criticism of central bank’s hawkish stance Read More »

By Nelson Bocanegra BOGOTA (Reuters) – Colombia’s private pension funds association said on Thursday a reform proposed by the leftist government of President Gustavo Petro is unsustainable and would have a significant impact on capital markets. The bill, one of a raft of reforms proposed by the government, would strengthen the state pensions administrator in …

Colombia pension reform would impact capital markets, private funds say Read More »