Growth
Takenaka upbeat on Japan growth after Bank reform
Japan's economy and banking minister said Tuesday the economy could eventually return to growth as high as 2.5% after a slow-growth period of painful reform. Heizo Takenaka spoke at the Australian National University and maintained pressure on the Bank…
Issing: CPI risks balanced, downside growth risks
The European Central Bank still believes euro-zone economic growth will gradually recover this year, while inflation will slowly fall back below 2%, ECB Chief Economist Otmar Issing said in a speech on Monday.
Eurozone interest rates held steady at 2.75%
The European Central Bank on Thursday left interest rates in the eurozone unchanged following a half-point cut in December, despite a series of data which have suggested stuttering growth in the 12-nation bloc.
Germany to face warning on deficit rules breach
Gerhard Schroder will today, Wednesday, be told by Brussels officials to increase efforts to tackle Germany's economic problems as speculation increases that the country will break the euro's budget deficit rules, the stability and growth pact, for a…
Garganas calls for ECB to change its rules
The eurozone's policy framework suffered a further blow when a leading central banker called for a key change in the way interest rates are set. The criticism comes after the ECB was forced to defend the stability and growth pact. However this time the…
Chicago Fed's Economic Outlook Symposium
REPORT - Economic growth in 2003 will be slightly above the rate in 2002, while the unemployment rate will be unchanged and inflation will be higher next year, according to the median forecast of participants at the Federal Reserve Bank of Chicago's…
Solans on EMU macroeconomic stability and growth
SPEECH - In the speech 'Macroeconomic stability and growth in the European Monetary Union' Eugenio Domingo Solans of the ECB defended the ECB's 'two pillars' saying that having a flexible and all-encompassing monetary policy strategy like the Eurosystem,…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 12 December released the minutes of its FOMC meeting of 6 November. The minutes reveal last months half-point interest rate cut was taken "to ensure that the current soft spot in the economy would prove to be temporary"…
Dollar at lowest level against euro since Jan 2000
The dollar plunged to its weakest level in almost three years against the euro and fell against the yen after a U.S. government report on declining producer prices raised concerns profit growth will slow.
ECB cuts growth outlook, with ongoing uncertainty
The European Central Bank Thursday slashed its forecasts for growth in coming years, citing the "persistently high degree of uncertainty" as the main reason. The publication of the ECB's monthly report reveals more on the motivation for its recent half…
Growth fears push Norway to cut interest rates
Norway's central bank surprised economists and cut interest rates on Wednesday as growth concerns outweighed stubborn wage inflation. Business leaders had called for a cut to kickstart the economy. The Bank's accompanying press release appeared to…
Snow nominated as new US Treasury secretary
Following Paul O'Neill's forced resignation on Friday the Bush administration signalled that boosting US jobs growth with tax cuts was at the top of its agenda for next year as it nominated John Snow as O'Neill's replacement as Treasury secretary.
Euro rates slashed to boost growth
Mounting fears over the sluggish eurozone economy have prompted the European Central Bank (ECB) to cut its key interest rate by a half-point, to 2.75%. There have been strong hints in the weeks since the last meeting from governing council members that…
Bank of Canada leaves interest rates steady
Canada has bucked the global trend recently with interest rate hikes. The decision on Tuesday that the Bank will leave rates at the current 2.75 per cent comes after recent comments by David Dodge that an ease in economic growth over the next three…
Eichel insists Germany will lower deficit
The EU's Stability and Growth Pact received some much needed support with Germany's Finance Minister Hans Eichel on Tuesday insisting that Germany would ensure its budget deficit next year came in below 3pc of GDP.
Federal Reserve Board - Beige Book, November 2002
REPORT - The Federal Reserve Beige Book released 27 November said that the US economy's growth in late October and November, was slow, with business conditions across all districts soft and sluggish excluding housing. Capital spending was limited,…
ECB worried inflation hasn't slowed with economy
The European Central Bank is concerned that inflation in the euro zone hasn't slowed as much as growth has this year, Chief Economist and Executive Board member Otmar Issing said in a newspaper interview.
Moskow expects US to hit growth potential in 2003
Michael Moskow has followed up Robert McTeer's comments we reported yesterday, saying the central bank's accommodative monetary policy will help US economic growth recover to full speed by next year. He is just the latest in a line of Federal Reserve…
George says public spending will prop up growth
Speaking on Tuesday the Bank of England's governor, Sir Edward George said public spending will underpin UK economic growth once consumer demand starts to wane, but any "substantial and generalised" public sector pay rises will push up inflation. He gave…
Bergo on monetary policy and economic cycles
SPEECH - In the speech 'Oil revenues, monetary policy and economic cycles' Jarle Bergo of Norges Bank said GDP growth is likely to pick up but will remain below the growth potential next year and that the interest rate increase in July has resulted in…
Bimal Jalan downplays fears of financial crisis
Saturday saw the governor of the Reserve Bank of India, Dr Bimal Jalan play down any threat of a domestic financial crisis. He reassured people that macro-economic indicators of the Indian economy were strong with low inflation, reasonably good growth…
Chicago Fed National Activity Index October 2002
REPORT - CFNAI Shows Economic Growth Slowed Further in October - In October, the Chicago Fed National Activity Index (CFNAI) remained below zero for a third month, coming in at -0.81 The three-month moving average index, CFNAI-MA3, moved down to -0.55.
Italy poised to put strict curb on public spending
After much recent talk on the stability and growth pact Italy looks set to restrict spending in an effort to avoid sanctions which other euro zone countries have recently incurred for not restricting their budget deficits to within 3 percent of GDP. The…
George moves to allay fears on public finances
Edward George agrees with Mervyn King that the UK housing market is set for a dramatic slowdown in price rises. He joins the stability and growth pact debate effectively criticising it by raising concerns about spending cuts and tax increases when the…