Growth
RBI pushes government to act on fiscal consolidation promises
Reserve Bank of India chief calls on government to make concrete progress on fiscal consolidation as central bank holds rates but cuts reserve requirements
Singapore review exposes plummeting growth rates
Biannual Monetary Authority of Singapore macroeconomic review details large drop in growth rates; inflation and unemployment steady
Bank of Russia reveals 2011 annual report
Russian economy grew while central bank battled inflation; exchange rate policy adjusted in transition to fully floating regime
Thailand lowers growth and inflation forecasts
Bank of Thailand says export demand has softened in latest quarterly inflation report; inflationary pressures will decrease as a result
Finland paper recommends ‘unpleasant reforms’
Research published by the Bank of Finland advocates slowing public sector growth and lowering taxes; will boost labour supply and competition
Third-quarter figures show Spain still grappling with economic woes
Bank of Spain economic bulletin for the third quarter shows continued weakening of growth and range of other economic indicators; raises possibility government will not meet deficit target this year
Papua New Guinea governor to tackle high liquidity
Loi Bakani discusses the state of Papua New Guinea’s economy; outlines the risks linked with high levels of fund inflows and how the central bank is addressing them
Bank of Israel optimistic on economic activity
A report on economic developments in Israel shows growth has continued at a moderate pace, increasing in the second quarter of the year, as other indicators paint a positive picture for future economic activity
Macao annual report sees ‘opportunity in crisis’
Monetary Authority of Macao annual report reveals drop in growth and climb in inflation; central bank chairman praises bank supervision developments
Sarb deputy says domestic woes are impacting growth
South African Reserve Bank deputy governor says domestic issues, including labour strikes, are dictating price and exchange rate concerns; growth rate likely to need downward revision
PBoC’s Yi urges IMF to complete quota and governance reforms
Deputy governor of the People’s Bank of China calls on remaining IMF members to approve 2010 quota and governance reforms; US has yet to accept the changes
Top policy-makers debate Japan’s challenging road to recovery
Policy-makers gathered in Tokyo this week warn that the eurozone crisis, domestic demographic changes and high levels of government debt may thwart Japan’s efforts to bolster economic growth
Moderate economic expansion reported in Fed’s Beige Book
Survey of economic conditions in Fed districts finds moderate increase in economic activity; New York district bucking trend
IMF paper evaluates Latin American interest rates
Research published by the IMF examines if interest rates in Latin American countries are contributing to a stable inflation rate and economic growth
Risks of a serious global slowdown ‘alarmingly high', says IMF
IMF lowers global growth forecast; says influence of highly accommodative policies by central banks may be diminishing and the probability of an ‘alarming’ scenario for growth stands at 17%
Fed paper studies impact of fiscal reform within a monetary union
Research published by the Federal Reserve considers the effects of a unilateral shift in taxation policy within a monetary union and finds that risk of spillovers only comes with full integration
Chilean minutes reveal positive developments
Minutes from the Board of the Bank of Chile’s September monetary policy meeting reveal improved view of external impacts on domestic demand; concern about growth sustainability
Malaysia’s Zeti says Asia must prepare for ‘new global landscape’
Zeti Akhtar Aziz highlights challenges due to the changing world economy following the financial crisis; says Asia is ‘well ahead’ with implementing financial stability policies
Mexican deputy says regulation should not be adopted 'unconditionally'
Manuel Ramos-Francia says regulation should not be adopted without properly considering its impact on growth; could otherwise be harmful in the long run
Irish deputy governor calls for fiscal surpluses
Stefan Gerlach analyses different approaches to debt reduction; finds fiscal surpluses are the most suited to the current financial environment
San Francisco paper studies effect of crisis on potential output
Federal Reserve Bank of San Francisco study examines US output potential; distinguishes between long-running trends and consequences of financial crisis
Kenyan report reveals battle to reduce inflation
Financial stability report released by the Central Bank of Kenya paints negative picture of growth; details monetary policy’s dramatic reaction to high inflation
Research warns of global liquidity trap
Smithers & Co report says quantitative easing unlikely to boost demand due to worldwide liquidity trap; calls for fiscal stimulus but says such action is not expected
Korean governor criticises local crisis resolution
Choongsoo Kim says a local resolution to the European debt crisis could harm emerging markets; should harness the growth in these regions instead