GDP
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
RBA minutes say further rate hike will be necessary
Reserve Bank of Australia monetary policy minutes show members of Reserve Bank Board voted to keep rates on hold; signals further tightening in future
IMF paper highlights procyclicality of government spending
Fund study finds evidence of procyclicality in government spending in commodity-exporting countries
RBI warns of uncomfortable inflation levels
Reserve Bank of India June 2011 Mid-Quarter Monetary Policy Review says inflation in India persists at uncomfortable levels
Switzerland votes for tougher capital rules on big banks
Swiss upper chamber backs bill to raise capital requirements of largest banks to 19%; Swiss National Bank vice-chairman Thomas Jordan says potential losses must be fully absorbed
Bank of Canada paper on real financial linkages
Bank of Canada study highlights importance of inclusion of real financial linkages in models of Canadian economy
Central Bank of Malta - Annual Report (2010)
Central Bank of Malta Annual Report 2010 says events in euro area could disturb economic recovery in Malta
UK inflation climbs to 4.5%
CPI inflation rises to 4.5% in April due to higher transport costs; prompts Bank of England governor Mervyn King to send sixth consecutive letter to chancellor
ECB’s Tumpel-Gugerell on cost of ex-post crisis measures
European Central Bank executive board member Gertrude Tumpel-Gugerell says large costs to clean up asset-price bubbles should lend support to more preemptive policies