Eurozone
Malta quarterly review presents mixed outlook
Quarterly review reports weak but improving economic activity; calls for government action to reduce debt and pursue structural reforms
Central Bank of Cyprus supports bailout request
Central bank recognises need for European help to recapitalise Cypriot banks; commits to supporting efforts to finalise the bailout
Canada may withdraw monetary stimulus if growth remains on track, says Carney
Mark Carney lauds Canadian economy, says Europe must create a common banking union and believes global recovery relies on moving to an open, multi-polar international economy
Bank of Finland paper assesses impact of eurozone crisis response
Discussion paper considers the effect of initiatives in response to the eurozone crisis on countries’ sovereign debt; finds some policy decisions had 'significant' short-term effect on bond markets
Czech National Bank reports resilient financial system
Financial Stability Report finds Czech financial sector well prepared for unfavourable external developments; says growth likely to stagnate in 2012
ECB’s Cœuré urges ‘revival’ of money markets
ECB policy-maker says money markets are “vital” to the financial system; discusses steps that should be taken to reduce risk concerns to restore activity
RBI holds rates fearing impact of further QE abroad
Reserve Bank of India says another round of quantitative easing in advanced countries would have an adverse impact on growth and inflation; keeps rates on hold in anticipation
Albania’s Fullani calls for greater co-operation with Europe
Ardian Fullani urges European policy-makers to pay greater attention to policy impact on aspiring members; emphasises that internal policies are also essential for stability
BoJ’s Shirai considers eurozone impact on Japan
Sayuri Shirai examines eurozone crisis and discusses impact on Japan; sets out three main channels through which the economy is affected
Sarb governor discusses response to economic risks
Gill Marcus examines economic risks facing South African economy; says employment target should not be included in bank’s mandate
Bundesbank raises 2012 growth prediction
German central bank records marginally more positive growth expectation for the economy this year; still harbours significant concerns on key issues such as unemployment
Israel’s Fischer advocates growth strategy in eurozone
Governor of Bank of Israel discusses eurozone crisis; says countries need not start fiscal consolidation immediately and should concentrate on growth
IMF’s Nehmat urges eurozone fiscal adjustment plan rethink
Deputy managing director of the IMF says some eurozone countries’ fiscal targets for 2013 may need to be altered given growth slowdown; also supports deeper European integration
BoE’s Broadbent examines rising cost of capital
External member of the Bank of England’s Monetary Policy Committee considers causes of rising capital costs; suggests fear among investors of ‘extreme outcomes’ in eurozone
IMF paper relates fiscal consolidation and growth
Paper discusses relationship between fiscal consolidation and short- and long-run growth; warns that rapid consolidation can be harmful
Greek governor highlights importance of decisions made in Athens
Georgios Provopoulos tells president recovery is linked to decisions made in Athens not Brussels; again stresses importance of faster progress with reforms in the country
Riksbank survey gauges Swedish risk perceptions
Survey by the Riksbank assesses participants’ perceptions of risk in Swedish financial system; finds limited optimism tempered by uncertainty over eurozone problems
ECB executive urges greater European federalisation
José Manuel González-Páramo, a member of the executive board of the ECB, examines sovereign debt crisis; says deeper union is “essential” in eurozone
Bundesbank adamant on Greek reform programme
Monthly statement from Bundesbank says Greek access to aid should not be eased to avoid dampening of incentive to reform; EC’s Barroso sensitive to sacrifices made so far after meeting interim president
Malta governor reflects on turbulent eurozone
The governor of the Central Bank of Malta speaks on economic challenges in the eurozone; focuses on improving regulation and competitiveness to promote long-run growth
BoE minutes reveal ‘finely balanced’ decision on QE in UK
Minutes from May meeting of Bank of England’s Monetary Policy Committee show uncertainty among policy-makers over the decision to leave asset purchase programme at its current level
OECD laments fragile, uneven global recovery
Economic Outlook predicts slower GDP growth across OECD countries in 2012; discusses delicate recovery around the world
BoE’s King says eurozone is ‘tearing itself apart’
Latest Inflation Report from the Bank of England lowers growth estimates for the economy; King says situation in eurozone continues to put pressure on the UK
Differing growth predictions demonstrate uneven global recovery
European Commission estimates 0.3% contraction for eurozone GDP; Lithuania and Thailand meanwhile revise growth estimates upwards