Latin America
Lower inflation brings relief for Argentina’s central bank
Central bank leaves interest rates on hold at 28.75%, as year-on-year inflation lowers to 22.5%
Brazilian policy rate at lowest level in 30 years
Copom expects inflation to fall to 2.9% this year
Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuela’s oil reserves and other raw materials; new ‘blockchain observatory’ has responsibility for oversight
Insider León takes Carstens’ seat at Bank of Mexico
León to take over from Carstens at end of week; lengthy selection process saw top contender drop out to run for presidential office
BIS paper surveys financial shocks in Latin America
Authors study the most effective policy response to financial shocks in different countries
Higher rates contributed to recovery in Latin America – IDB economist
Less hawkish policies can fail to generate growth but push up inflation, research finds
Savings and good governance are best policy against natural disasters – IADB
Chile was able to overcome a major earthquake in 2010 without resorting to international funding
Latin America lags in use of robotics, but faces same threats
Robots threaten over 50% of jobs across the region, report warns, though they offer an opportunity to boost productivity