Growth
IMF says global economy may be at ‘turning point’
China and India expected to drive half of global growth this year, but other economies are lagging
Rates round-up: Canada to pause after 25bp rate rise
Thailand ups 25bp; Nigeria increases sharply; Angola opts for cut; and more
‘Geo-economic fragmentation’ could cut GDP by 12%, says IMF
Georgieva says world faces “new Cold War”, putting global financial stability at risk
China set to ease borrowing limits for ‘high-quality’ developers
New measure is part of a 21-point plan to support the reeling property sector
South Asia’s rapid progress under threat, IMF warns
Millions have escaped poverty but “bold” policies are needed to avoid backsliding
Palestine weathers ‘complex crises’ but faces further slowdown
Unemployment remains high and the government’s budget under severe stress
The strong dollar, global inflation and global recession
Steve Kamin asks whether the Fed’s tight policy is pushing the world towards recession
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
BoE raises rates 50bp as outlook marginally brightens
Two MPC members vote to keep rates on hold, as staff predict slightly lower inflation
Book notes: A monetary and fiscal history of the United States, 1961–2021, by Alan Blinder
An infusion of the history of fiscal policy into a theoretical framework traditionally focused on monetary instruments
RBI raises rate 35bp to ‘break’ inflation persistence
Committee splits as it tries to balance inflation fight against continued growth
Book notes: Zero interest rate policy and the new abnormal, by Michael Beenstock
Thesis that QE caused low r* is entertaining and infuriating in equal measure
RBNZ delivers record 75bp rate rise to curb inflation
Central bank now expects policy rate to peak at 5.5% next year, up from previous estimate of 4.1%
Chinese MPC member calls for 5% growth target in 2023
China faces "difficulty" in sustaining strong annual growth from now to 2035, Liu Shijin says
BoE officials reject criticism of forecast misses
Bailey says labour market dominates firms’ concerns and says Brexit has hampered economy
ECB’s Panetta warns tighter policy could inflict unnecessary damage
Monetary policy could permanently reduce potential output, argues ECB board member
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
Reshuffle heralds new era of Chinese central banking
Policy room for next PBoC governor looks limited, as loyalists win out over technocrats for top economic posts
Bank Indonesia delivers another 50bp rate rise
Governor Perry Warjiyo describes the rate hike as a pre-emptive move
US and European policy-makers feel ‘vindicated’ over aggressive hikes
QT may deserve a slower approach than traditional policy, says Jacob Frenkel
African governors face multiple financial ‘floods’
Kenyan governor says a “doubling, tripling” of access to IMF resources is needed