Ecuador’s economy, South America’s seventh biggest, is growing at its weakest pace since 2010 as lower oil prices and limited financing options after a 2008 default crimped government spending and cooled domestic demand.
Emerging-market stocks increased for the first time in four days as central banks in Brazil and South Korea cut rates to bolster growth and a unit of China’s sovereign wealth fund vowed to support banking shares.
YPF SA, Argentina’s largest oil producer, may lose three more licenses for fields where it extracts 11 percent of its crude as provincial governments step up pressure on the company to boost investments.
Peru’s central bank probably will keep borrowing costs unchanged for the 17th consecutive month today as it seeks to balance inflation risks resulting from strong growth with concern that the global economic outlook is deteriorating.
Chilean traders who are wagering that policy makers will wait more than a year before raising interest rates risk underestimating the central bank’s commitment to containing inflation, according to the most- accurate forecaster.
Peru’s policy makers will probably keep their benchmark interest rate at a two-year high as above- target inflation prevents them from supporting the government’s bid to boost growth amid slowing global demand.