Growth
Bank of Greece delivers policy report for ‘critical year’
Greek central bank announces bleak prediction for economy in 2012; calls on government to go above and beyond to ensure reform programme is implemented
Philadelphia Fed releases latest business survey
Philadelphia Fed reports continued improvements in manufacturing sector; results of Business Outlook Survey show general activity, new orders, shipments and employment all remained positive
ECB reveals dip in G-20 GDP growth
European Central Bank announces G-20 GDP growth slowed to 0.7% in the fourth quarter of 2011
IMF paper looks at long-term prosperity in China
IMF research suggests China could enhance long-term income by implementing reforms to weaken protection of monopolies and encourage entry in all industries
Juncker confirms release of latest funds for Greece
Eurogroup approves second adjustment programme in Greece; first instalment of €39.4 billion of emergency funding to be released
Norway lowers benchmark rate again
Norges Bank surprises markets by announcing 0.25 percentage point cut to key policy rate; governor says continuing downturn abroad and strong krone are keeping inflation low and "weighing on growth"
IMF’s Shinohara highlights Ethiopia’s economic challenges
Naoyuki Shinohara, deputy managing director of the IMF, says Ethiopia still has work to do on containing high inflation and raising savings, among other issues
RBI’s Khan discusses outward Indian FDI
Reserve Bank of India deputy governor speaks about globalisation and growing Indian outward foreign direct investment
Dutch central bank warns on budget deficit
Netherlands Bank says “highest priority” is required for restructuring of Dutch public finances
South Africa must tackle capital flows ‘challenge’, says deputy governor
Sarb deputy governor says problems with capital flows in South Africa require “fresh thinking”; rand exchange rate fluctuations causing problems
Raskin echoes Bernanke in discussing ‘modest’ recovery
Sarah Bloom Raskin talks about slow recovery compared to historical cycles and the impact of accommodative policy on savers
Bank of Mauritius releases financial stability report
Latest report offers overview of international and domestic economic pressures impacting the country
IMF paper studies Indian growth spillovers to south Asia
Results of a panel growth regression suggests India’s growth has impacted region since 1995
Malaysia warns external environment could restrict growth
Bank Negara Malaysia fourth quarter report on economic and financial developments says strong domestic demand will drive growth in 2012 despite challenging external environment
Israel releases latest economic update
Inflation over whole of 2011 was 2.2%; country reached vicinity of full employment in the first half of last year
Brazil deputy governor positive about economic future
Aldo Mendes says Brazil is prepared to face global economic deterioration; expects to see final growth figure of 3% for 2011 announced soon
Sri Lanka remembers suicide bomb victims
New memorial unveiled at the Central Bank of Sri Lanka to mark 16th anniversary of bomb attack on the institution; governor says terrorists failed in aim to paralyse economic growth
Atlanta Fed paper finds low elasticity of intertemporal substitution
Federal Reserve Bank of Atlanta study shows levels of consumption growth are not very responsive to interest rate movements
Bangladesh Bank calls on government to borrow less
Bangladesh central bank wants to bring inflation to single digits and halt foreign currency reserve “depletion”; hopes government borrowing will not “crowd out” available liquidity in banking system
IMF fears eurozone crisis will stall global recovery
World Economic Outlook slashes growth projections for 2012 as downside risks to eurozone economy intensify; IMF warns spill-over effects could slow economic activity globally
Bank of Israel report highlights policy split on rate-setting body
Bank of Israel report of Narrow Forum discussion shows one member of monetary committee dissented against decision to hold rates, instead preferring a 25-basis-point cut
Sri Lanka holds rates on stable growth outlook
Central Bank of Sri Lanka Monetary Policy Review shows economy grew by 8.4% in the third quarter of 2011 due to strong agriculture, industry and services sector
Bank of Canada survey forecasts weaker sales growth this year
Bank of Canada Business Outlook Winter Survey shows outlook for sales growth in 2012 turns negative as demand continues to weigh on firms’ expectations
Philippines quarterly review brings mixed news
Central Bank of the Philippines reports lower than expected growth, but remains positive about economy’s outlook in latest Report on Economic and Financial Developments