Growth
BoE launches broad Brexit response
Central bank wields all its main tools and some new ones as the effects of Brexit begin to appear; aims to support transmission mechanism amid extraordinary measures
IMF urges Abenomics ‘reload’ as BoJ struggles
Fund tells Japanese authorities to be clearer and more systematic in setting policy, as government unveils new stimulus; working paper suggests alternative to helicopter money
Bank of Namibia cuts growth forecast, but expects rebound
Namibia to grow 4.4% in 2016, central bank projects; improvements expected in 2017, alongside recovery in diamond mining sector
IMF paper examines impact of debt restructurings on growth
Growth usually declines after debt restructurings, but it can boost performance if the country exits a default spell, the authors find
Growth risks push Mauritius MPC to cut by 40bp
Central bank cuts interest rates to 4%, amid risks arising from Brexit and potential volatility from US elections; reducing rate will support investment and encourage growth, says bank
BoE agents see firms aiming for ‘business as usual’ in wake of Brexit
Agents’ post-Brexit review shows housing market resilience while there are reports of some firms look to relocate back to the UK in wake of sterling depreciation; IMF updates forecasts
Slowdown in Brics increasingly down to domestic factors – Mminele
Sarb deputy says structural reform needed to foster global growth; sees role of domestic factors affecting Brics growth increasing since 2013
Technical issue affects Fed minutes release
Error in Federal Reserve equipment results in early release in some cases and late in others; minutes show Fed officials grappling with uncertainty amid slowing job growth and UK referendum fallout
Sweden’s FI gauges impact of debt-to-income limit
Financial regulator tries to attach values to the growth and stability impact of DTI limits, one potential tool for tackling rising household indebtedness
BoE seen shifting into easing mode
Many economists view Bank of England as likely to shift towards an easing bias, but the central bank may find itself with limited room for manoeuvre
IMF paper points to short-term benefits of product market reforms
Authors find product market reforms can deliver benefits in short term as well as long, though effects may be curtailed where credit is constrained
China's growth: a complex trading picture
China’s minister of commerce Gao Hucheng reveals four central opportunities that will arise in the course of the Chinese market’s development
Tackling China’s structural challenges
Minister of finance Lou Jiwei reflects on how China is tackling four long-term roadblocks that threaten stable economic growth
Opportunities and risks from economic recovery
Former prime minister of Japan Yukio Hatoyama, chairman of the IFF Advisory Committee, welcomes the shift in China’s direction towards sustained growth through structural reforms
The growing role of China in an interconnected world
With global economic health ever more reliant on Chinese growth, Wang Yan, deputy director of the IFF Institute, looks at how structural reforms can help China take a leading role in the future
State money and bank money: lifting the fog around QE
Steve Hanke says economists are missing important details by focusing on interest rates, rather than the money supply
Trinidad and Tobago governor predicts GDP contraction of up to 2.5%
Contraction of 2.5% expected amid falling oil prices; co-ordinated fiscal, monetary and structural reforms would increase recovery's chance of success, Hilaire says
Slow growth need not be the ‘new normal’ – Richmond Fed paper
Authors give reasons for optimism about the future of US economic growth, and outline policies that could support it, although most are outside the control of the central bank
BoE’s Weale: t-distribution may outperform normal
Representing monetary policy committee’s judgements using the t-distribution implies GDP outcomes are skewed to the downside and inflation to the upside
IMF’s Rennhack outlines challenges facing LatAm economies
Robert Rennhack sees terms of trade driving real exchange rates; tells audience in Mexico region as a whole is in recession
Sub-Saharan African countries need more responsive policy – IMF staff
Some central banks “impeded” in pursuit of primary mandate; staff report discourages government and structural development financing
Australian governor Stevens sees more viable options than helicopter money
Reserve Bank of Australia governor identifies a host of practical issues to helicopter money, and says there is more governments can be doing before then
Norges Bank deputy pits Keynes against Hayek
Jon Nicolaisen says European countries may have invoked the lessons of Keynes without paying heed to the warnings of Hayek – both views are needed to avoid problems
BoE searches for better data on macro-financial links
As part of efforts to crack the UK’s productivity puzzle, the BoE plans improved data-gathering, seeking insight into the impact of capital accumulation and access to finance