International

Fed vice chair says ‘appropriate soon’ to slow rate hikes

Photo: Anadolu Agency

| By AFP |

It likely will be “appropriate soon” for the US central bank to slow the pace of interest rate increases, Federal Reserve Vice Chair Lael Brainard said on Monday.

Her comments came as red-hot consumer prices, which have squeezed American households, showed signs of easing, and after the Fed delivered a fourth straight super-sized rate hike to cool the economy.

But with inflation still hovering at their highest levels in recent decades, the Fed still has “additional work to do both on raising rates” and tamping down high prices, she said in the event with Bloomberg.

The closely-watched consumer price index released last week showed US inflation logged its lowest annual increase since January, fueling hopes that soaring costs will start to pull back.

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The Fed has raised the benchmark lending rate six times this year, but there is a growing chorus of voices recently, including some Fed officials, advocating for smaller steps in coming months.

International

MEPs Approve Plan That Could Fast-Track Rejection of Some Asylum Claims

With an overwhelming majority of 408 votes in favor, the European Parliament backed the creation of a list of safe countries of origin for asylum seekers.

People coming from Colombia, Egypt, India, Bangladesh, Kosovo, Morocco and Tunisia who apply for asylum in the European Union could see their requests rejected on the grounds that the bloc’s 27 member states consider those nations safe. Applicants would have to prove their individual circumstances, showing evidence of persecution or specific risks if they were to return.

At the same time, while their applications are processed or their return is arranged, migrants could be transferred to third countries outside the EU if the bloc has an agreement with them, if the individuals previously transited through those nations, or if they have family or cultural ties there. The measure provides legal cover for the creation of processing centers beyond EU territory, similar to an initiative previously pursued by Italian Prime Minister Giorgia Meloni in Albania.

Tuesday’s vote reflects the tightening of European migration policy in recent years, despite asylum applications having fallen by more than 20% last year and the issue not ranking among citizens’ top concerns, according to recent surveys.

International

Chile Unveils Latam-GPT to Give Latin America Its Own AI Model

Chile on Tuesday launched Latam-GPT, an initiative aimed at providing Latin America with its own artificial intelligence model in a field largely dominated by U.S. companies, while seeking to reduce biases identified in existing systems.

The project is led by Chile’s National Center for Artificial Intelligence (CENIA), a private corporation funded with public resources.

Latam-GPT is backed by universities, foundations, libraries, government agencies and civil society organizations from across the region, including Chile, Uruguay, Brazil, Colombia, Mexico, Peru, Ecuador and Argentina.

“Thanks to Latam-GPT we are positioning the region as an active and sovereign player in the economy of the future. We are at the table — we are not on the menu,” President Gabriel Boric said during the presentation of the initiative on national broadcaster Televisión Nacional.

The tool aims to break down prejudices and prevent Latin America from being portrayed as a single, uniform reality, Chile’s science minister, Aldo Valle, told AFP.

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The region, he added, “cannot be merely a user or passive recipient of artificial intelligence systems. That could result in losing a significant part of our traditions.”

Despite its name, the initiative is not an interactive chatbot. Instead, it is a large regional database trained on Latin American information that can be used to develop technological applications, the minister explained.

International

Mexico Rises Slightly to 141st in Global Corruption Perceptions Index 2025

Mexico improved by one point in its rating and climbed to 141st place in the 2025 Corruption Perceptions Index (CPI) published Tuesday by the anti-corruption organization Transparency International, which gave the country a score of 27 out of 100.

The slight increase in score comes after Mexico recorded its lowest CPI result in history in 2024 during the final year of former President Andrés Manuel López Obrador’s term, also scoring 27 out of 100. The CPI is widely regarded as the main global measure of perceived public-sector corruption, where 0 represents high corruption and 100 denotes very low corruption.

Within the region, Mexico ranks above only Guatemala (26), Paraguay (24), Honduras (22), Haiti (16), Nicaragua (14) and Venezuela (10), but trails key economic peers such as Brazil (35) and Chile (63).

Among the 38 member countries of the Organisation for Economic Co-operation and Development (OECD), Mexico ranks last. In the G20 grouping, it sits in the penultimate position, ahead of only Russia. Experts say Mexico’s persistently low score reflects ongoing challenges in curbing corruption and protecting public funds.

Transparency International’s report also highlights structural corruption issues that have allowed organized crime to infiltrate politics and weaken governance, as well as risks to journalists covering corruption.