Latin America News
LAST UPDATE: June 18, 2025
Bank of Canada Officials Fretted Over Firmer Inflation Persisting for Extended Period, Minutes Say
Minutes from the June 4 meeting reveal concern that core inflation (2.3%) might remain elevated due to trade disruptions and tariff pass-through, prompting the Bank of Canada to hold the benchmark rate at 2.75%.
Insight
Persistent upward pressure from global trade shifts complicates rate-cut decisions; policy may stay tighter longer as officials seek clearer signs of cooling.
Brazil sells exploration rights to 19 oil blocks near Amazon river
Brazil auctioned 172 oil blocks (including 19 near the Amazon River) to companies like Chevron, ExxonMobil, Petrobras, and CNPC, despite protests from environmentalists and Indigenous groups. The auction raised $180 million in bonuses.
Insight
The move highlights tension between economic ambitions and environmental commitments; Brazil seeks to diversify energy yet faces criticism ahead of UN climate talks.
