Brazil's monetary policy committee cut interest rates by 0.5% to 14.25%. The cut follows a downward revision in projected inflation for this year, from 4.5% to 3.68%. Also, the real has appreciated steadily against the dollar, as the economy slowed down in the second quarter of the year.
Russia’s tax collection rose 26.2% on last year to 3.7 trillion roubles for the first seven months of the year.
China's National Bureau of Statistics announced that it has revised the country's growth for 2005 to 10.2%, up from 9.9%, based on higher growth in the industry and service sectors.
Korea’s current account deficit for the first seven months of the year $639 million, compared to a surplus of $9.9 billion last year. Bank of Korea reported that the country's deficit in July was $212 million, compared to a surplus of $941 million in June.