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While major central banks are signalling a peaking of their rate hike cycle, there are indications that the tight monetary policy stance could persist for longer than anticipated earlier
"Dollarization would be very positive for Argentina," said Mark Rosen, who was a US member of the IMF board.
SANTIAGO: Chile's central bank said that inflation risks have "decreased significantly" in minutes of its latest meeting published on Friday.
In a big day for central banks across Europe on Thursday, Switzerland shocked markets by leaving its interest rates unchanged, while Sweden and Norway met expectations with a quarter-point hike each. The Swiss National Bank held its key rate unchanged at 1.75%, against analyst expectations for a quarter-point increase, but said further tightening could not be ruled out. Sweden raised its key policy rate by a quarter of a percentage point to 4%, as expected, and said it might need to do more to bring inflation back to its 2% target.
Falling oil inventories put America's energy security at risk, potentially making the country more vulnerable to supply disruptions and price volatility in the global market.