Singapore - The US Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore (MAS) Thursday announced the establishment of temporary reciprocal currency arrangements (swap lines).
Washington - The International Monetary Fund on Wednesday approved a new programme to provide emergency loans to countries facing serious cash shortages in the wake of an ongoing financial crisis.
Countries with a "track record" of solid economic policies can now apply for three-month loans without the usual conditions attached, IMF Managing Director Dominique Strauss-Kahn said.
Buenos Aires - Argentina's central bank intervened in the country's foreign exchange market Wednesday with an injection of 1 billion dollars to contain the depreciation of the peso.
In the early hours of activity, the dollar rose 2.08 per cent against the peso to 3.43 pesos from 3.36. The Central Bank's intervention brought it down to 3.39 pesos, an increase of 0.9 per cent in relation to the previous day's closing.
Washington - The US Federal Reserve cut interest rates Wednesday by 0.5 percentage points to 1 per cent, the lowest level since June 2004, in an effort to keep the US economy out of a prolonged recession.
The US central bank acknowledged that economic activity had "slowed markedly" but made no mention of a recession that many economists expect is inevitable.
Sao Paulo - Unemployment in Brazil dropped to 14.1 per cent in September, its lowest level for that month since 1998, the trade- union research institute Dieese said Wednesday in Sao Paulo.
According to Dieese, unemployment in September in the six metropolitan regions that were studied - Sao Paulo, Belo Horizonte, Porto Alegre, Recife, Salvador de Bahia and Brasilia - fell by 0.4 percentage points in relation to August.
Singapore - The US Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore (MAS) Thursday announced the establishment of temporary reciprocal currency arrangements (swap lines).
Washington - The International Monetary Fund on Wednesday approved a new programme to provide emergency loans to countries facing serious cash shortages in the wake of an ongoing financial crisis.
Buenos Aires - Argentina's central bank intervened in the country's foreign exchange market Wednesday with an injection of 1 billion dollars to contain the depreciation of the peso.
Washington - The US Federal Reserve cut interest rates Wednesday by 0.5 percentage points to 1 per cent, the lowest level since June 2004, in an effort to keep the US economy out of a prolonged recession.
Sao Paulo - Unemployment in Brazil dropped to 14.1 per cent in September, its lowest level for that month since 1998, the trade- union research institute Dieese said Wednesday in Sao Paulo.
