GDP
Public spending shocks work better when households are confident- paper
Government spending stimulus reduces household confidence as it confirms pessimism regarding the economy, paper argues
China’s current credit trajectory is ‘dangerous’, IMF warns
Fund revises up China’s GDP growth forecast, but warns debt-fuelled growth is unsustainable
Ghanaian central bank closes two commercial banks
IMF staff called for action in February over problems at some commercial banks
Swedish inflation above target, but tightening unlikely
The Scandinavian economy recorded a 4% year-on-year expansion in the second quarter of 2017, but a strong krona and the ECB’s loose policy stance make an immediate rate rise difficult
Stanley Fischer analyses the factors behind low real interest rates
The economist emphasises government policy uncertainty in the US regarding health care, regulation, taxes and trade, as well as higher savings and weak investment
Swedish GDP growth beats forecast, adding to bank’s concerns
Inflation remains below the 2% target, despite lower unemployment, leaving the Riksbank reluctant to change course and raise rates before the summer of 2018
Vietnamese central bank cuts rates, despite IMF credit warning
Decision contradicts IMF advice to keep monetary policy on hold to contain rapid credit growth, but growth and inflation have disappointed
IMF says remittances do not balance out losses caused by emigration
Remittances are key for providing support to LAC countries in terms of fiscal and financial stability; lack of labour resources and decline in productivity outweighs remittance support
Book notes: Can We Avoid Another Financial Crisis?, by Steve Keen
Steve Keen challenges “mainstream” economic thinking in this concise book, hoping to shift the political debate on debt
GDP calculation needs double deflation, says IMF paper
Single deflation techniques introduce errors which can be significant, authors argue, concluding all nations should use double deflation
Dominican Central Bank reports growth of 6.6%
Provisional data from the bank shows it is the fastest growing within the region for the fourth year in a row; agriculture sector fuelling rapid growth
Economic growth on the horizon for Finland, says Liikanen
Improved productivity and higher employment are needed to boost economic growth, says Finnish governor; Bank of Finland’s forecasts show recovery will be slower than in previous cycles
IMF supports Chile move to form financial markets commission
Body will help with better co-ordination and information sharing between the financial sector and central bank; fund says central bank should be ready to cut rates if disinflation appears
Denmark’s economy set for a boom, says Rohde
Latest release of reports show Danish economy is resilient and set to grow in the next two years; governor Rohde still concerned about house prices
IMF lifts censure on Argentinian inflation
Inflation and GDP figures now in line with international standards, fund acknowledges; Lagarde praises Argentinian authority’s efforts to reform statistical agency
Bank of Namibia revises growth forecasts
Latest economic outlook warns lower production from the mining sector will have an impact on GDP levels for this year, but growth is expected to pick up in 2017
Bank of England MPC backtracks on planned rate cut
Latest inflation report forecasts larger overshoot of 2% target; there are “limits” to the extent to which above-target inflation can be tolerated, committee says
Eurozone employment-to-GDP-growth ratio has recovered strongly – ECB
Employment growth concentrated in Spain and Germany; productivity remains “stagnant at pre-crisis levels”
‘Absolutely urgent’ for Mexico to strengthen fiscal stance – Sánchez
Bank of Mexico deputy governor stresses need for fiscal revamp to bolster the Mexican economy as monetary policy can only carry so much weight
Book notes: The power of a single number, by Philipp Lepenies
Lepenies offers a brief but very readable treatment of GDP's political history, drawing out some important lessons in the process
Irish central bank warns of ‘negative and material’ impact from Brexit
Quarterly bulletin discusses channels through which UK vote to leave EU will affect Ireland; economy expected to grow by 4.9% this year and 3.7% next
IMF paper examines impact of debt restructurings on growth
Growth usually declines after debt restructurings, but it can boost performance if the country exits a default spell, the authors find
BoE agents see firms aiming for ‘business as usual’ in wake of Brexit
Agents’ post-Brexit review shows housing market resilience while there are reports of some firms look to relocate back to the UK in wake of sterling depreciation; IMF updates forecasts
Yellen says July hike ‘not impossible’ as Fed holds
Fed keeps policy unchanged as widely anticipated; expected path of interest rate hikes becomes more gradual while the long-run level is revised down again