Economics
The EU’s problem is solvency, not liquidity, says Pimco’s El-Erian
The EU faces a tricky 2011 as it navigates excessive debt, but needs to address solvency issues rather than liquidity, says Pimco's CEO Mohamed El-Erian.
Israel unveils measures to brace against inflows
Bank of Israel introduces reporting rules, reserve requirements on foreign exchange derivatives trades; measures intended to clarify nature, limit inflows
Trinidad and Tobago’s Williams on economic outlook for 2011
Central Bank of Trinidad and Tobago governor Ewart Williams says growth in Caribbean state during 2011 hinges on recovery in domestic demand
FSoC moots amendments to 'too big to fail' law
Financial Stability Oversight Council suggests changes in accounting standards, language of reform law barring firms from holding more than 10% of industry’s total liabilities
Bank rate set to remain on hold despite fresh rise in inflation
Bank of England unlikely to raise rates despite higher-than-forecast rise in inflation in December; analysts say central bank is right to keep rates on hold
Sweden’s Ingves draws roadmap to macroprudential mandate
Riksbank governor Stefan Ingves discusses measures in governance, implementation and econometrics needed for successful macroprudential policy
Bank of Japan Regional Economic Report (January 2011)
Bank of Japan January Regional Economic Report notes a pause in economic activity in some regions
Bank of Finland study finds positive innovation channel
Bank of Finland study finds positive effect of finance on growth through efficient technological innovations
Calomiris to join Bank as Houblon-Norman fellow
US academic Charles Calomiris set to spend three months at the Bank of England, to examine development of Bank’s lender-of-last-resort role
NY Fed paper investigates decline in adjustable-rate mortgage
New York Federal Reserve says supply-side factors explain decline in market share of adjustable-rate mortgages in recent years
Research underestimates probability of reaching zero bound: San Francisco Fed
San Francisco Federal Reserve paper says probability of hitting the zero lower bound of interest rate is often underestimated in economic research
Trichet predicts positive momentum to carry through to 2011
European Central Bank president Jean-Claude Trichet says euro area economy outlook for 2011 expected to remain positive, identifies some downside risks
Central Bank of Barbados - Annual Economic Review 2010
Central Bank of Barbados’ Annual Economic Review 2010 looks at tourism-led recovery in Caribbean state
Barbados’s Worrell on social impact of unemployment
Central Bank of Barbados governor DeLisle Worrell describes employment challenges of everyday Barbadians
Federal Reserve – Beige Book (January 2011)
Reports from twelve districts identify slight improvement in labour markets
BoJ’s Nishimura warns of challenge population ageing poses on recovery
Bank of Japan deputy governor Kiyohiko Nishimura says population ageing can have prolonged effects on balance sheet adjustments following crises
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Turkey’s Yilmaz says lost output recovered
Central Bank of Turkey governor Durmuş Yilmaz says growth in Turkey has returned to pre-crisis levels but weak exports continue to limit production
IMF’s Lipsky calls for major US fiscal consolidation
IMF first deputy managing director, John Lipsky, says measures to ease debt burden in Unites States could have broader benefits for global recovery
Canada’s Côté on households' role in recovery
Bank of Canada deputy governor Agathe Côté discusses balance of risks in household spending and impact on economic recovery
Labour market essential component of recovery: NY Fed’s Tracy
New York Federal Reserve executive vice-president Joseph Tracy says shape of US economic recovery relies on labour market improvements
QE2 will create jobs, Yellen tells critics
Federal Reserve vice-chair Janet Yellen says further quantitative easing will address weak labour demand and generate roughly 700,000 jobs
Unemployment to weaken recovery: Bernanke
Federal Reserve chairman Ben Bernanke says moderate economic recovery is likely to keep unemployment high
Beijing must turn away from dollar, says PBoC official: reports
Senior People’s Bank of China official says Beijing must shake off dollar reliance in opinion column