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Brazil's annual inflation climbs above 8pc in March BRASILIA: Brazil's annual inflation rate climbed above 8 percent in March though at a slower pace than expected, government data showed on Wednesday, keeping pressure on the central bank to raise interest rates further despite a broad economic slowdown.The benchmark IPCA consumer price index rose 1.32 percent in March, statistics agency IBGE said, slightly less than expectations for an increase of 1.39 percent in a Reuters poll but still climbing at its fastest pace since 2003.In the 12 months through March, consumer prices rose 8.13 percent, the highest rate since December 2003 and well above the government's 4.5 percent inflation target.Brazil's inflation rate has soared in 2015, denting President Dilma Rousseff's popularity as she opted to pass higher costs of electricity, gasoline and other regulated prices on to consumers after years of attempts to keep them low.Housing costs rose 5.29 percent in March from February alone, pushed up by a ...

Minister sees Portugal jobless rate resuming fall soon LISBON: Despite a recent jump in joblessness that has cast a shadow over Portugal's economic recovery, the government still expects the unemployment rate to fall this year, possibly even beating its projection of 13.4 percent, the economy minister said.Antonio Pires de Lima attributed the rise in the last quarter of 2014 and in the first two months of this year, to 14.1 percent in February, to seasonal factors and said the trend would reverse in ...
IMF slashes 2015 forecast for Armenian economy YEREVAN: The International Monetary Fund (IMF) cut its 2015 growth forecast for Armenia's economy to around zero from 3.3 percent, reflecting declining exports and remittances from workers abroad as well as the impact of a plunging Russian rouble.The slower growth rate would affect the budget deficit, which was likely to be around 4.5 percent rather than the 2.34 percent projected by the government, said Mark Horton, the head of an IMF mission to the former ...
IMF to conduct Serbia review in first week of May: government official BELGRADE: The International Monetary Fund will review the implementation of its 1.2 billion euro ($1.3 billion) loan deal with Serbia in the first week of May, a senior government official said on Wednesday.In February, the IMF signed off on a precautionary loan deal with Serbia after it pledged to reform the public sector and cut the consolidated deficit to around 6 percent of national output in 2015 from over 7 percent last year.The government has ...
Euro zone Feb retail sales up as expected from year earlier BRUSSELS: Euro zone retail sales rose from a year earlier as expected in February, data showed on Wednesday, thanks to higher demand for non-food products and automotive fuel.The European Union's statistics office Eurostat said retail sales in the 19 countries sharing the euro slipped 0.2 percent month-on-month for a 3.0 percent year-on-year gain, exactly in line with economists polled by Reuters.Retail sales are a proxy for consumer demand, an important component of euro zone gross ...
Taiwan March exports fall at fastest pace in 2 years as tech demand flags TAIPEI: Taiwan's exports posted their biggest drop in two years in March as shipments to major markets flagged, a sign that demand for gadgets like smartphones from Apple Inc may be cooling.Electronics exports, which had held up well in recent months as the island's technology manufacturers make many of the components packed into the hot-selling iPhone 6, lost ground in March, slipping 0.2 percent last month from a year earlier.Taiwan's export trend is a key ...
US mortgage applications rise in latest week: MBA NEW YORK: Applications for US home mortgages rose last week as interest rates declined, an industry group said on Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.4 percent in the week ended April 3.The MBA's seasonally adjusted index of refinancing applications fell 3.3 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln