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SANTIAGO: Chile's slower pace of economic growth and soft inflation are opening up more monetary policy possibilities, but other factors must be considered and the stance on interest rates is still neutral, the central bank's president said on Friday.Asked why medium-term market expectations had recently shifted from a rate hold to a cut, Central Bank President Rodrigo Vergara told the Reuters Latin America Investment Summit that "there are some factors that in some way open up the spectrum of possibilities towards some (options) that weren't present, in particular the option of a rate cut.""What's happened in terms of inflation and in terms of activity obviously opens up more possibilities, but there are a series of elements that we still need to evaluate," Vergara added.Traders see the central bank cutting its benchmark interest rate by a quarter-percentage point to 4.75 percent within 12 months, shifting from their view of no change ...
NEW YORK: Seven months after deadly superstorm Sandy devastated the coastline of New Jersey and parts of New York, all New York City beaches opened Friday at the start of the three-day Memorial Day weekend.New York City has eight public beaches along 14 miles (23 kilometers) of coastline -- Brooklyn (southeast), Bronx (north), Queens (northeast) and Staten Island (south).Mayor Michael Bloomberg said Friday that the city spent $370 million removing debris, cleaning and replacing tons ...
BOGOTA: A clash between Colombian army and rebel forces left five combatants dead, the army said in a statement Friday, marking the latest fighting despite ongoing peace talks between the two sides.The battle Thursday in northern Antioquia department left three army soldiers dead and three wounded.Two members of the FARC leftist rebel group died and two more were wounded, the army said in a statement.The Colombian government has been holding peace talks with the FARC ...
SAVAR: Relatives said on Friday they were still waiting for news of their missing loved ones, as many gathered to mark one month since Bangladesh's worst industrial tragedy.A government official said on Friday that more than 300 people were still formally unaccounted for after the collapse of the garment factory complex on April 24 that killed 1,127 people.Family of the dead and missing along with labour activists and students gathered to lay floral wreaths at ...
PARIS: The head of the German central Bundesbank Jens Weidmann said on Friday that eurozone countries should be able to default, a possibility which the EU has gone to great lengths to avoid during the current crisis."In this crisis we have paid great attention to avoid the risks of default" given concerns about contagion to other eurozone states, said Weidmann, an advocate of conservative fiscal and monetary policies.However, the risk of default should exist, he ...
BEIRUT: Lebanon's President Michel Sleiman cautioned the Shiite group Hezbollah on Friday over its militia fighting alongside regime troops in neighbouring Syria."The resistance is more noble and more important than anything, and should not get bogged down in the sands of dissension, whether in Syria or Lebanon," he said in a statement, referring to Hezbollah's strong stance against Israel.Copyright AFP (Agence France-Presse), 2013 
GRENOBLE: A Catholic priest at the posh French ski station of Megeve has been stripped of his functions at the request of the Vatican for being a member of a Masonic lodge, his parish said Friday.Father Pascal Vesin of the Sainte-Anne d'Arly-Montjoie parish was ordered by the bishop of Annecy, Yves Boivineau, to halt his functions due to his "active membership" of the Grand Orient de France, a large Masonic organisation.A statement from the parish ...More Articles...
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