Recommended reading of the week

Bloomberg Line – Monetary policy continues to tighten around the world. The European Central Bank joined a list of more than 80 central banks that made decisions this year about their rates and hikes, In search of stopping the high inflation that hits their countries.

The facility raised interest rates by 50 basis points on Thursday, higher than the market had expected. since then, Money market traders are betting that at the next meeting of the European Central Bank in September, The height of 60 basis points will be determined.

This move came though A political crisis is taking place in Italyone of the most indebted economies in the region, which has led to the deterioration of the country’s markets. Revised forecasts indicate that investors expect the European Central Bank to be more aggressive in dealing with record inflationWhich is more than four times exceeding its 2% goal, according to Bloomberg.

President Lasso commented on the economic and political challenges of his government

The President of Ecuador, Guillermo Laso, spoke exclusively with Bloomberg Line on me What is coming for the country after 18 days of strike and indigenous protests last June, Which practically paralyzed the country and prompted the National Assembly to vote a Isolation which ultimately failed.

In this dialogue, the Ecuadorean president referred directly to the former president Rafael Correa, a fugitive from justice and exile in Belgium, as a promoter of protest against his government because he is “desperate to return to Ecuador to achieve his impunity”.. He added that he did not feel lonely in power and that in the midst of the worst protests he had not considered stepping down.

Devaluation and fears, what happens with dollar coins and Latin coins

In recent days, the word “dollar” has become one of the main Internet search trends in countries such as Chile and Colombia, where the US dollar is not usually an obsession, as it is in Argentina. and that is Latin American currencies began to lose strength against the US dollar in a noticeable way, This has raised fears of rising inflation in the region.

Although the LACI index, which tracks the performance of major Latin American currencies against the dollar, showed a strengthening of nearly 10% between January and April, the trend has reversed since June and The US currency took the lead and appreciated by 4% between December 31, 2021 and the end of July 18 at the start of the week.

The interval released as of the 6th of the month is directly related to the decision of the Federal Open Market Committee (FOMC) of the United States Federal Reserve to raise the benchmark interest rate by 75 basis points, In an effort to curb price hikes in the world’s largest economy.

Crypto Millionaire Bankman-Fried Sets His Eyes on Latin America

American crypto millionaire Sam Bankman-Fred, founder and CEO of FTX, has shown interest in being interviewed Bloomberg Line To open markets in Latin America, without reference to a specific plan, At the same time, he called for more regulation of cryptocurrencies, believing that it could give “greater institutional confidence in the sector.” Amid the recent price drops.

“I think we definitely need more regulation around cryptocurrencies globally and especially in the US, and I really support the initiatives of the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission) in driving that,” Bankman-Fried said.

Bitcoin erases gains after Tesla reveals that it has sold almost all of its tokens

Bitcoin (XBT) erased all of its gains last Wednesday and fell for the first time in three days after Tesla Inc. (TSLA) He revealed that he sold a large part of his property of cryptocurrency during the second quarter of the year.

The company said that the decline in bitcoin hurt its earnings in the second quarter and that it has converted about 75% of its cryptocurrency purchases into fiat currency. Tesla said in its earnings statement on Wednesday that these transfers added $936 million in cash to its balance sheet.

LatAm was the fastest growing region for Netflix in the second quarter

Latin America represented the highest annual growth rate for Netflix (NFLX) in the second quarter compared to other world regions, the company said in a letter to its shareholders on Tuesday (July 19).

The streaming platform posted revenue of $1.03 billion, with a 16% year-over-year jump in Latin America. In the UCAN region (USA and Canada), it grew by 10%, with losses of -4% in EMEA (Europe, Middle East and Africa) and -9% in the Asia Pacific region (Asia Pacific).

In the first half of 2022, Growth was 14% compared to the first six months of 2021, also outperforming the performance of other regions.