Growth
Reserve Bank of Fiji delivers positive economic review
Latest economic review reveals generally optimistic developments in Fijian economy; growth and inflation expected to meet projections
Shirakawa calls for increase in Japan’s potential for growth
Bank of Japan governor says monetary easing has created accommodative financial conditions; calls for private sector to take advantage
Pakistan develops five-year Islamic finance plan
State Bank of Pakistan’s Kazi Abdul Muktadir praises the growth of the Islamic finance industry; outlines new operational frameworks
RBA holds rate as global growth softens
Stable inflation, close to target domestic growth and 'subdued' international economic picture lead Reserve Bank of Australia board to leave benchmark rate at 3.5%
Fed paper estimates impact of more stringent bank supervision
Discussion paper studies changes in the stringency of the US bank ratings system ‘Camels’; finds although variation is small, closer supervision leads to a significant decline in lending
Bank of Finland paper examines reasons for business cycle co-movement
Discussion paper suggests thinking of growth performance of economies as ‘coupled’ or ‘de-coupled’ is overly simplistic; identifies a number of factors contributing to interdependence
BoJ’s Morimoto outlines ways to combat deflation
Yoshihisa Morimoto emphasises importance of ‘capturing’ demand to overcome deflation; says CPI is currently at 0% but is expected to rise towards 1% target in fiscal 2013
Central Bank of Brazil cuts rates as uncertainty persists
Monetary policy committee votes unanimously for 50-basis-point rate cut; further reductions remain a possibility
Impending drop in economic growth, warns South African research
South African Reserve Bank working paper uses new model to analyse financial conditions; finds conditions have declined and threaten GDP growth
Philippines governor expounds importance of consumer protection
Central Bank of Philippines’ Amando Tetangco emphasises the value of consumer protection; says it works in tandem with financial stability
Fed’s beige book reveals increased economic activity
US Federal Reserve economic summary reports expanding economic activity in the US; credit conditions said to be improving
Mohanty says India must play catch-up
Reserve Bank of India executive director calls for efforts to recapture India’s pre-crisis growth rate; lays out income target and challenges
National Bank of Hungary cuts rates despite high inflation
Central bank cuts policy rate amid worsening growth figures and weak outlook; however, inflation expected to remain above 3% target “over a sustained period”
Can Japan afford to grow?
Japan has managed to maintain living standards during its two ‘lost decades’, but its efforts to do so now represent obstacles to achieving sustainable growth. By Ryo Watabe.
Dallas Fed research questions Chinese growth data
Economic letter uses proxy for industrial production to estimate Chinese growth; suggests official figures may understate the extent of the slowdown
BoJ’s Shirakawa calls for 'drastic deregulation' to promote growth
Masaaki Shirakawa sets out possibilities for encouraging increased investment to promote growth and inflation expectations; firms reluctant to borrow despite monetary easing
Riksbank deputy describes “surprisingly strong” economy
Kerstin af Jochnick says Swedish economy has performed well during the past quarter, but weak performance in the eurozone has caused large appreciation of krona and uncertain inflation path
Carney discusses the “right kind” of globalisation
Governor of the Bank of Canada explains how globalisation can be harnessed to create prosperity for Canadians; says responsibility for past mistakes lay with many parties
Bank of Namibia cuts rates due to uncertain economic outlook
Central bank reduces benchmark rate by 50 basis points; says cut necessary to support economy despite inflationary pressure and “rapid” growth in consumer credit
BoJ unveils international investment position in 2011
Japanese central bank research paper shows a rise in country’s net assets; both external financial assets and external liabilities increase
IMF paper studies monetary impact of household production
Working paper designs model that adds a household sector to the economy, which competes with firms in the service sector; finds this amplifies the transmission of monetary shocks
Malaysian growth rate exceeds target
Report published by Bank Negara Malaysia on economic developments in second quarter shows increase in growth beyond level forecast in annual report; central bank expects trend to continue
IMF working paper warns of dangers in sovereign debt restructuring
Researchers find debt restructurings have adverse impact on economic growth; say debt sustainability is a crucial consideration
Cleveland Fed researchers suggest moderate growth may persist
‘Economic Trends’ research highlights possibility of a slowdown in US trend rate of growth; economy shows modest version of previous recoveries