Growth
Luxembourg’s Mersch condemns Basel III bias
Central Bank of Luxembourg governor Yves Mersch says Basel III will be more detrimental to European banks than US lenders; echoes bankers’ concerns on lending to small and medium enterprises
BIS investigates drivers in US stock market
Bank for International Settlements study says changes in expected excess returns on dividends main driver of US stock market
Deflation caused by low growth expectations: BoJ paper
Bank of Japan study says deflation made worse by falling growth, inflation expectations
Bank of Canada downgrades medium term growth forecast
Bank of Canada’s October Monetary Policy Report revises growth forecasts on weaker global outlook
Yilmaz: Turkish economy booming
Central Bank of the Republic of Turkey governor Durmuş Yilmaz says growth in Turkey outpaced most emerging markets in second quarter
Bernanke hints at further round of QE
Federal Reserve chairman Ben Bernanke says Fed is prepared for further stimulus
IIF defends doom-and-gloom Basel III forecasts
Institute for International Finance backs up its predictions of Basel III output loss, which are deeper than regulators’
PBoC’s Zhou calls for labour market reforms in advanced economies
People’s Bank of China governor Zhou Xiaochuan says labour reforms will help developed countries return to balanced growth
Estonia expects to undershoot growth
Bank of Estonia Economic Review forecasts decline in growth despite improvements in labour productivity
BoK’s Kim: Asia needs stronger domestic demand
Bank of Korea governor Kim Choongsoo says domestic demand can aid structural imbalances in Asia
RBI’s Gokarn identifies emerging inflation risks
Reserve Bank of India deputy governor Subir Gokarn says changing dietary habits are driving up food prices
Riksbank: inefficient labour markets distort growth
Riksbank study shows inefficiencies in output are related to the inefficient allocation of labour in the United States
Chile’s De Gregorio praises economic recovery from earthquake
Central Bank of Chile governor José De Gregorio says economic recovery owes to permanent and temporary factors driving growth
Polish banking sector curbed growth in crisis
National Bank of Poland study shows banking sector played significant role in economic slowdown during financial crisis
BoJ doing all it can to bolster growth, says Shirakawa
Bank of Japan governor Masaaki Shirakawa points to central bank’s multiple efforts to boost activity
Banks fear soaring regulatory compliance costs: industry survey
Survey of financial firms shows three quarters of respondents expect costs of complying with Basel III, Dodd-Frank to exceed costs in past three years
BoJ: consumption tax hike insufficient to balance budget
Bank of Japan study says consumption tax increase and moderate growth unlikely to return country to fiscal sustainability
Summers quits Obama’s economic team
Chief adviser to President Obama, Lawrence Summers, announces departure from National Economic Council at end of year
BoJ’s Kamezaki predicts weaker outlook for growth
Bank of Japan rate-setter Hidetoshi Kamezaki expects Japanese growth engines to slow down
Weber on growth prospects after the crisis
Bundesbank president stresses financial stability has to and will be reinforced
Monetary policy best placed to boost short-term growth: King
Bank of England governor Mervyn King tells trade unionists that monetary policy is best suited to revive flagging broad money figures; says fiscal emphasis should be on debt reduction
IMF’s Strauss-Kahn: unemployment bears grave social costs
IMF managing director Dominique Strauss-Kahn says failure to tackle unemployment could lead to lost generation
CEPR: PIGS neglected current account deficits
Centre for Economic Policy Research study shows adoption of euro caused countries to relax current account discipline
Peru raises reserve requirement in bid to stem capital inflows
Central Bank of Peru increases reserve requirement on overseas loans to 75%