MercoPress. South Atlantic News Agency
Stories for March 6th 2009
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Friday, March 6th 2009 - 09:03 UTC
China’s “most difficult year” sends shivers to Mercosur
Chinese Premier Wen Jiabao has said the current year will be the most difficult the country has faced this century because of the global economic crisis. Addressing parliament this week, Mr Wen reiterated that there would be a 585 billion US dollars investment program to stimulate the Chinese economy.
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Friday, March 6th 2009 - 09:01 UTC
UK cuts rates to 0.5% and unveils plan “to ease” £ 150 billion
The Bank of England slashed Thursday rates to 0.5% and unveiled plans to pump up to £150 billion into the economy in its boldest bid yet to tackle the recession. Official borrowing costs have now fallen for six months in a row but the Bank's Monetary Policy Committee believes rate cuts alone will not be enough.
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Friday, March 6th 2009 - 09:00 UTC
Trichet promises “non standard measures” to prop Euro economy
The European Central Bank (ECB) has cut its key interest rate to 1.5% from 2.0%, the lowest since it started setting euro rates in January 1999. It followed a cut in UK rates by the Bank of England. US and Japanese rates are, in effect, already at zero.
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Friday, March 6th 2009 - 08:58 UTC
Brazil Argentina trade clash; dispute could reach WTO
Brazil’s Foreign Trade Secretary Welber Barral admitted publicly that Brasilia is considering taking its trade dispute claims with Argentina to the World Trade Organization. Insistent leaks to the press from “reliable sources” anticipated for days the growing trade rift between Mercosur two main partners.
