GDP
MAS releases recent economic developments briefing
Monetary Authority of Singapore sets out recent economic developments in the country; reveals inflation prediction for 2012
RBA surprises markets with rate hold
Reserve Bank of Australia policy board leaves cash rate unchanged despite market expectation of 25-basis point cut in rates due to weak external outlook
Heightened uncertainty promoted precautionary savings post-crisis, says IMF paper
Fund study says precautionary motives promoted households in advanced economies to significantly increase savings following the global financial crisis
IMF paper: High international reserves are not panacea for low-income countries
International Monetary Fund study measures economic impact of external shocks on low-income countries with different levels of international reserves; says reserves provide cushion not remedy
ECB and BoE join other countries in rates hold
European Central Bank and Bank of England join the National Bank of Poland and Bank Indonesia in leaving interest rates on hold; ECB president welcomes U-turn on Greece private sector involvement
Sri Lanka holds rates on stable growth outlook
Central Bank of Sri Lanka Monetary Policy Review shows economy grew by 8.4% in the third quarter of 2011 due to strong agriculture, industry and services sector
BIS paper warns of risks from long-term interest rate volatility
Bank for International Settlements study cautions against the use of long-term interest rates as a policy variable
UK government launches separate easing programme
Bank of England agrees to reduce the maximum size of its Asset Purchase Facility to make way for government’s new credit easing programme; settles dispute over bolstering lending to SMEs
Credit expansions strengthen recessionary trends: SF Fed paper
San Francisco Federal Reserve study finds credit intensity of the boom periods matter for path of recession
Expert group calls for launch of Eurobond fund
European League for Economic Co-operation publishes proposals requesting the establishment of eurozone bond fund; would issue paper with maturities of up to two years
Credit-leading indicator to trigger countercyclical buffer phases: BIS paper
Bank for International Settlements study shows that credit-to-GDP ratio is best indicator for build-up and release phases of countercyclical capital buffers
Draghi announces rate cut amid fears of mild recession
European Central Bank president Mario Draghi marks inaugural Governing Council press conference with 25 basis point rate cut; ECB reveals details of covered bond scheme
Netherlands takes on systemically important banks
Netherlands Bank expresses concern at exposure of Dutch banking sector to sovereign debt crisis; tells systemically important banks to begin preparations to raise capital and build recovery plans
Greece will receive bailout funds despite missing target, say analysts
Greece finance ministry says country will fall short of its fiscal deficit reduction target for 2011; analysts still expect Troika to approve sixth bailout tranche
Translating new GDP data into more accurate nowcasts: Norges Bank paper
Norges Bank study examines how precision of density nowcasts increases as GDP data is revised
De Nederlandsche Bank paper measures flow of trade-based money laundering
De Nederlandsche Bank study shows money laundering through licit exports and imports offers way around stricter anti-money laundering regulations in financial markets
Greece talks with Troika back on track
Negotiations over Greece‘s sixth tranche of bailout funds are set to resume as Troika leaders agree to return to Athens
Italy unfazed by S&P downgrade
Standard and Poor's downgrades Italy's credit rating by one notch to A; Italian government slams move, reaffirms confidence in fiscal reforms
RBNZ estimates economic benefits from hosting major Rugby tournament
Reserve Bank of New Zealand expects the upcoming 2011 Rugby World Cup to add 1.4% to New Zealand’s growth
Lithuania bucks trend to instead predict higher economic growth
Bank of Lithuania predicts higher economic growth in 2011; Mexico joins UK in lowering forecast
IMF paper observes heterogeneous interest rate pass-through
Fund study identifies factors that both facilitate and impede monetary policy pass-through to economy and financial markets
Bank of Italy – Economic Bulletin (July 2011)
Bank of Italy July 2011 Economic Bulletin says risks from European sovereign debt crisis have spread to Italy
Uncertainty over resignation of Pakistan governor continues
State Bank of Pakistan spokesperson says governor Shahid Kardar's resignation has 'not yet' been accepted
Expansionary effects of fiscal contractions overstated: IMF paper
Fund study finds bias in literature towards expansionary effects on fiscal contractions