Growth
Mexico shows signs of end to recession
MEXICO - The Bank of Mexico on Tuesday raised its forecast for the country's gross domestic product growth this year to 1.8 per cent from 1.5 per cent, apparently confirming predictions that the economy is starting to follow the US out of recession.
US economic growth soars
US - Economic growth in the US soared to 5.8% during the first three months of 2002, the US Commerce Department has reported.
St Louis Fed's Poole - Must guard for inflation
US - In a speech on productivity at a University of Missouri-sponsored dinner, Poole said that for the U.S. economy to enjoy the higher living standards and faster trend rate of economic growth offered by increases in productivity - or worker output per…
Zimbabwe to target money supply growth
ZIMBABWE - Concerted action aimed at curtailing monetary growth and increasing the output of goods and services in the economy is vital if a sustainable reduction in inflation to levels that promote investment and growth is to be achieved, warns the…
Speech by H Kohler, Managing Director, IMF, 17 Apr
SPEECH - Kohler said in a speech titled 'Promoting Sustained Growth and International Financial Stability' that the U.S. economic recovery should provide a lift for the rest of the world, making now a good time for the world's largest economies to…
Thin skin - Don't mess with Buba
FEATURE - The upcoming German elections appear to have put German Chancellor Gerhard Schroeder in a foul and vindictive mood. Some months ago, there was the chancellor's surprisingly undiplomatic "How Dare You" response to Brussels' warning that Germany…
Output trends and Okun's law - BIS Working Paper
RESEARCH - BIS Working Papers No. 111 by Gert Schnabel, April 2002.
Speech by L Heikensten, Sveriges Riksbank, 2 Apr
SPEECH - Heikensten said in a speech titled 'Growth effects of the new stabilisation policy regime' that Sweden's recent policy of pursuing low and stable inflation and steady economic policies has been important for improving the conditions for economic…
Norway c bank governor points to debt risk
NORWAY - Norway's central bank governor Svein Gjedrem reiterated on Friday that high credit growth posed a risk to the Norwegian oil-backed economy.
Speech by Anne Krueger of the IMF, 20 Mar
SPEECH - In the speech titled 'Growth and Reform in Russia' Krueger said Russia should aim for economic growth of between 4%-6% a year for the next 10-15 years.
Business Outlook Survey
REPORT - The Federal Reserve Bank of Philadelphia has published its regular Business Outlook Survey for March 2002.
Korea's central bank upbeat on growth
SOUTH KOREA - South Korea's central bank has raised its forecast for economic growth in 2002 after a robust performance in the October to December period last year.
ECB optimistic about euro zone upturn, inflation
GERMANY - The European Central Bank on Thursday again voiced confidence the euro zone economy had bottomed out and the region's growth should gradually return to full speed before the end of the year.
ECB Issing says eurozone econ hit bottom in '01
FRANCE - Europe's economic slowdown hit bottom at the end of last year and growth should be back above 2% by the end of 2002, European Central Bank Chief Economist Otmar Issing says in an interview with Les Echos Tuesday.
China's central bank chief unfazed by debt
CHINA - The governor of China's central bank, Dai Xianglong, acknowledged for the first time yesterday that national domestic debt is much higher than official yardsticks have so far indicated, but he said reform and economic growth would alleviate the…
Israel unveils plan to limit central bank powers
ISRAEL - Israel's Finance Ministry unveiled legislation Sunday to rein in the power of the central bank, with a monetary council appointed by the finance minister and a widening of the bank's goals to include growth and employment targets.
Survey of Professional Forecasters
RESEARCH - The U.S. economy will rebound sooner rather than later, according to 35 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The forecasters expect stronger growth over the next three quarters than they projected in the survey of…
Duisenberg sees global recovery, risks remain
GERMANY - European Central Bank President Wim Duisenberg said on Monday he expected a mild recovery of the global economy this year with euro zone growth reaching its long-term potential by the end of 2002.
Armenia's c bank chief to take part in seminar
ARMENIA - The head of Armenia's Central Bank Tigran Sargsian today left for London for participation in the seminar "Poverty reduction, growth and debt sustainability in the low-income countries of CIS", which will be held on 21-22 Feb.
Speech by Antonio Fazio Governor Bank of Italy
SPEECH - In the speech titled 'Recovery and growth of the Italian economy' Fazio said that the Bank of Italy expects economic growth in the European Union to slow to 1.5 percent in 2002 from 1.7 percent last year. But that EU growth was likely to recover…
Chicago Fed Letter, February 2002
REPORT - According to research in the latest Chicago Fed Letter, improvements in average worker skill levels have slowed and are likely to continue to slow the rest of this decade, which could negatively impact U.S. productivity growth in years to come.
Allsopp - ECB should have stable growth aim
UK - Maintaining a stable rate of economic growth should be given a clearer role in the policy framework of the European Central Bank, a senior Bank of England official said on Wednesday.
Germany on brink of recession
GERMANY - The German economy is teetering on the brink of official recession, officials have said, after figures showed growth in 2001 slowing to its lowest level for eight years.
Swiss gov't resists bid to widen cen bank mandate
SWITZERLAND - The Swiss government has resisted efforts by leftists and trade unions, during a revision of the central bank law, to make the Swiss National Bank lay equal stress on growth and employment as well as fighting inflation.