Americas June 2005

Posted by Scriptaty | 12:47 AM

  • Canada’s April unemployment rate of 6.8 percent was a 0.1-percent drop from the previous month and the lowest level since December 2000. More adult women found fulltime work and more construction jobs became available.

  • At its May meeting, the Bank of Canada left the country’s benchmark interest rate unchanged at 2.5 percent but reiterated previous comments that the rate will rise eventually. The bank expects Canada’s economy to hit full capacity in the second half of 2006 and expects inflation will hit 2 percent by then (it stood at 1.9 percent through April).

  • Argentina got its first bit of help since falling into financial crisis in 2002 when the World Bank gave one of the country’s largest banks a $40 million loan. The loan will help small and medium-sized companies in Argentina secure loans. In a statement, the World Bank said Argentina had steadily regained economic ground and needed help with its banking sector.

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