GDP
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
Zhou says China is ready for bolder reform
Zhou Xiaochuan comments on further progress with liberalisation and financial market reforms in what is likely to be his last press conference as PBoC governor
Protectionism may have ‘serious consequences’ – Canada’s Lane
US tax reforms may affect Canada’s capacity to attract investment, warns deputy governor
Malaysia central bank dismisses concerns over government cash handout
BNM says cash handout idea was “first mooted” by its board, dismissing the suggestion it was designed to “tempt” the Malaysian people
Researchers develop new index to measure geopolitical risk
Heightened threats slow growth and equities returns in advanced economies, paper finds
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
State Bank of Vietnam seeks to rein in credit growth
Target of 17% credit growth this year to contain risks
Bank Negara makes first rate hike since 2014
Bank Negara Malaysia is the first South-east Asian central bank to hike rates this year
Central bank of the year: Bank of Canada
The Canadian central bank has stood out for its ever-improving levels of transparency, forward-looking management and best-practice review of its policy mandate
Bank of Korea on hold amid policy dilemma
Strong won and benign inflation likely to keep the BoK on hold in the first half of 2018
Cyclical price analysis needs major improvements – ECB paper
Researchers say DSGE models’ handling of housing prices is subject to errors
First Romanian policy hike in a decade
Central bank hikes policy rate for the first time since 2008, as inflation exceeds forecasts
Older workforce will reduce Danish growth, central bank says
Reforms to expand labour supply are needed to offset negative effects of demography
Early asset purchases much more successful – BIS paper
Authors find effectiveness falls over time as the shock wears off, questioning the value of long-running quantitative easing
BoE paper lays out ‘financial conditions index’ for UK
Index proves valuable as a summary measure and also as an input to forecasting
IMF warns Chinese banks are undercapitalised
The IMF report highlights the insufficient capital of Chinese banks, conflicting tensions of growth and stability, and the financial system’s complexity
Distorted Swiss surplus not good base for policy – Jordan
Multinationals’ operations, higher nominal rates abroad and Swiss franc appreciation increase the surplus
San Francisco Fed study: cash is not dead yet
Demand for notes and coins is “strong”, says the study, with cash in circulation growing in the majority of nations
European recovery may be stronger than previously thought
If the great recession and sovereign debt crisis are considered a single shock, “recovery is in line with – or better than – historical patterns”
NY Fed economists reveal big-data approach to nowcasting
Paper sets out the New York Fed’s model for producing early estimates of major indicators
Sweden still needs loose policy – IMF
Elevated house prices, public debt and low wage growth are the biggest risks to the economy
Brexit uncertainty could shrink UK economy by 2% – BoE deputy
Negative effects of Brexit beginning to take effect, says Dave Ramsden
Kuwait could create financial stability committee – IMF
The central bank could strengthen supervision by creating a new committee, say IMF staff; the country is weathering oil shocks well
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors