Growth
RBA’s Lowe says productivity still a problem
Australia has proven resilient through an uncomfortable rebalancing phase, but the economy is still plagued by disappointing productivity growth, deputy governor says
External conditions move Bank of Mexico to lower growth forecasts
Central bank cuts growth forecasts for 2016/2017 by half a percentage point; global slowdown starting to have larger impact
UK will not ‘heal’ if pay and productivity remain ‘stuck’ – BoE deputy
Cunliffe optimistic inflation will return to target as disinflationary pressures fade, also keeping close eye on productivity
IMF urges ‘comprehensive approach’ to growth that reduces reliance on monetary policy
International Monetary Fund calls for coordinated policy response ahead of G20 meetings; policy-makers ‘must act now’ to implement strategies
Is China really the cause of sluggish global growth?
China's policy-makers blame structural problem in the West for global malaise, despite unprecedented monetary stimulus by central banks
Christchurch recovering after quake, RBNZ paper finds
Economy proves ‘resilient’ to earthquake as rebuild continues; uncertainty around the timeline puts off businesses from investing in the region
Global growth has ‘flat-lined’, says OECD chief economist
Global economy expected to expand no faster than in 2015; current monetary policy stance ‘insufficient’ to spur growth
RBA board agrees China has ‘scope to respond’ if outlook worsens
Minutes from February meeting reveal board is wary a ‘sharp slowing’ in economic activity could spill over to other economies in region, though Chinese authorities could respond
BoJ’s Nakaso sees analytical challenge in gauging reforms
Policy board member says the design of standard models may be one reason why it is hard to tell whether Japan needs demand- or supply-side reform
Rajan tells banks to prepare for ‘deep surgery’
RBI governor says banks will have until March 2017 to clean up their balance sheets; banking sector represents weak spot of otherwise vibrant economy
Australian governor Stevens stresses policy ‘flexibility’
Governor says Reserve Bank of Australia has scope to ease monetary policy if need be, though economy expected to continue expanding
Central Bank of Brazil faces ‘policy dilemmas’
Tombini facing tough challenge as inflation rises into double figures while the IMF predicts deeper recession; observers divided on what comes next
IMF staff tell Turkey to fix imbalances
Fund mission says central bank must tighten policy to head off growing external imbalances and inflation; low oil price keeping a lid on problems but longer-term solutions needed
BoJ research estimates impact of Olympics on growth
Authors suggest Tokyo Olympics will boost Japan’s annual real GDP growth by 0.2-0.3 percentage points from 2015-2018, as tourism and construction investment picks up
Economists point to external woes as Central Bank of Brazil holds rates
Monetary policy committee leaves interest rate at 14.25% in surprise move; politics and fiscal policy making life harder for central bank, analysts suggest
Carney says UK rate hike still some way off
Continued weakness in key indicators begins to puzzle policy-makers as Carney suggests there is room for the MPC to wait longer; CPI and core inflation on the rise
IMF cuts global growth forecast on back of EM challenges
Maurice Obstfeld says emerging markets and developing economies account for more than two-thirds of revisions; largest changes come in Brazil, where the MPC meets today
Room for monetary policy stimulus has ‘narrowed’ in many EMs, World Bank report warns
Little room left to use monetary or fiscal stimulus in event of growth shock in some countries, report says, pointing to role for structural reform
Chilean central bank spells out risks to outlook
Central bank expects inflation to return to 3% target by end of 2017 according to latest forecasts; details risks from home and abroad to macroeconomic outlook
RBI is rebalancing shadow-banking regulation, Gandhi says
The central bank seeks to tighten regulation and move from entity- to activity-based rules, the deputy governor says
Brazil private growth expectations slide further
Brazilian economy will contract by 3.62% this year with inflation breaching the 10% barrier, private institutions say
Global value chain key to realising growth potentials, says Sri Lanka governor
Mahendran says Sri Lanka has not integrated fully into the international value chain; former World Bank chief economist Lin discusses ‘new’ structural economics
South Africa evades recession with positive growth in third quarter
Agriculture sector remains a concern despite economic growth in third quarter, most recent Sarb quarterly review notes
Economists outline improved DSGE forecasting method
Bank of England working paper attempts to improve forecast performance by using a multi-step approach to estimating parameters, delivering what the authors say are ‘significant’ improvements