Growth
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
Central Bank of Tunisia report explores impact of revolution
Annual report for 2011 reveals a sharp drop in production and exports post-revolution; economic growth fell to -1.8%, says central bank
Asian Development Bank opens office in Myanmar
Asian Development Bank furthers "re-engagement" with Myanmar by opening an office; alternate executive director from the country also joins ADB board of directors
Central Bank of Barbados governor praises government’s fiscal strategy
DeLisle Worrell says Barbadian government’s policy strategy is appropriate to the ‘economic reality’; follows downgrade of sovereign debt to BB+ in July
Estonian growth recovery 'relies' on eurozone governments' action
Estimates for Estonian growth rely on eurozone governments acting to ease the ongoing uncertainty, says central bank economist Kaspar Oja; domestic demand stays strong nevertheless
IMF paper finds evidence in favour of ‘Chicago Plan’
Researchers analyse benefits of requiring 100% reserve backing of bank deposits and lending financed by retained earnings; argue evidence supports four major advantages of plan
RBA reveals brighter growth outlook
Reserve Bank of Australia improves 2012 growth estimate; strong figures offset by uncertainty regarding external developments and possible upward trend for inflation
Bollard sets out vision of ‘new world’ economy
Governor of the Reserve Bank of New Zealand warns shift of global economy in favour of emerging Asia brings both risks and benefits; says attitudes towards debt have become more cautious
Reserve Bank of Fiji annual report highlights steady recovery
Annual report for 2011 reviews policy challenges throughout year; says central bank delivered on mandate of low inflation and stable reserves while helping to spur growth
Croatian National Bank identifies increasing risks to financial stability
Financial stability report says contagion from eurozone, deleveraging by European banks or collapse of confidence in fiscal sustainability could push Croatia into deeper recession
Banque de France predicts output contraction in Q3
Survey on Industry and Services shows French businesses expect growth to contract by 0.1% in third quarter of 2012; figures show steady deterioration in sentiment since mid-2010
National Bank of Hungary divided over policy stance
Minutes of the National Bank of Hungary’s July monetary policy meeting show disagreement among council members over rate decision; vote split 5:2 in favour of hold
Bank of Israel report warns of further downward revision to growth
Monetary policy report for first half of 2012 shows continuation of moderate growth but says if current indications of a slowdown do not change, the forecast will have to be revised down
King says black clouds remain over UK economy
Governor of the Bank of England reveals lower growth prediction for UK; inflation also expected to fall but King denies country faces a lost decade
Israel’s Fischer expresses hope that living standards will overtake the West
Stanley Fischer says growth in Israel remains reasonable and above that of the West; warns government must press ahead with agreed fiscal measures to create ‘position of strength’
China hints at policy adjustments to support economy
People's Bank of China pledges to strengthen the 'fine-tuning' of monetary policy in the country; latest indication of growing anxiety over slowing economy