Growth
Reserve Bank of New Zealand annual report details foreign exchange losses
Reserve Bank of New Zealand annual report outlines 'sluggish' growth rates and foreign exchange losses, but predicts an increase in future economic activity
RBI deputy governor wants real sector reforms
Kamalesh Chandra Chakrabarty says a second generation of economic reforms is needed; measures should target individuals rather than the financial sector as whole
BIS paper examines link between low growth and recessions
Bank for International Settlements research studies relationship between low growth and recession in the US; finds some growth patterns can forecast a sharp decline in GDP
IMF-World Bank announces location for 2015 meeting
Annual meetings of central bankers and finance ministers to be held in Latin America; events to include discussions of global economic and financial developments and policies to reduce poverty
BIS raises fears over lower global growth trajectory
Bank for International Settlements Quarterly Review says global growth outlook deteriorated further over the quarter; warns of diminishing benefits to unconventional monetary policy
IMF working paper critical of short-term austerity measures
IMF study suggests debt burdens should be addressed longer-term when economies are in expansionary mode; short-term austerity may do more harm than good
IMF mission calls for ‘urgent’ action on Serbian economy
Fact-finding mission calls on government to restore fiscal credibility and support growth; says steps need to be taken to strengthen National Bank of Serbia’s autonomy
Colombian governor warns of low-rate risks
José Darío Uribe says low interest rates pose medium-term risks to emerging markets; advises that unsustainable credit growth should be hedged
Central Bank of the UAE optimistic in first financial stability review
First financial stability review released by Central Bank of the UAE reveals positive developments; growth has recovered since 2009 slump while inflation is near-zero
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