Official Record
RBA minutes show cautious optimism
Minutes of Reserve Bank of Australia’s July monetary policy meeting note strong growth in domestic economy and signs of external recovery despite weakened growth in US, Europe and China
BoJ minutes reveal unanimous vote for rate hold
Minutes of Bank of Japan’s June monetary policy meeting show unanimous support for rate hold; say deflation a 'critical challenge'
Philippines central bank paper analyses effect of remittance flows
Working paper considers macroeconomic impact of flows of remittances into Filipino economy; identifies number of benefits but also potential risks to competitiveness
National Bank of Serbia annual report reviews policy changes
Annual monetary policy report highlights shift in mid-2011 towards monetary easing in Serbia; says pressure from food prices caused inflation to repeatedly overshoot target in first half of year
National Bank of Hungary paper surveys wage rigidities
Paper presents findings of large European survey conducted by central banks; finds wages are more rigid than prices, but various factors determine the frequency of adjustment
Fijian central bank reports on financial investigations
Reserve Bank of Fiji publishes annual report of its financial intelligence unit; says the unit investigated a large number of serious financial offences in 2011
Bank of Canada reports payment system developments
Report reviews Bank of Canada’s activities in promoting clearing and settlement systems; says operations support 'stability and efficiency' of financial system
Vietnam central bank statistics show positive outlook
Statistics published by the State Bank of Vietnam highlight steady economic recovery; nevertheless, central bank says “strong efforts” necessary to hit annual growth targets
BoJ Tankan survey shows increased business confidence
Tankan short-term economic survey reports overall increase in manufacturing confidence; forecasts further increases in next quarter
National Bank of Hungary predicts stagflation
Quarterly inflation report projects growth contraction in 2012; says inflation is likely to persist above target due to government tax increases
Bhutanese central bank warns of external imbalances
Royal Monetary Authority of Bhutan monetary policy statement outlines threats to currency peg; says long-run solution requires strengthening of macroeconomic fundamentals
Reserve Bank of New Zealand examines bank funding
Quarterly bulletin article considers relationship between official cash rate and cost of bank funding; finds funding costs relative to the OCR changed following financial crisis
Malta quarterly review presents mixed outlook
Quarterly review reports weak but improving economic activity; calls for government action to reduce debt and pursue structural reforms
New Zealand central bank publishes statement of intent
Statement emphasises commitment to price stability as “primary goal”; highlights need to adapt to macroeconomic environment in setting monetary and macro-prudential policy
Fed paper examines balanced budget rules
Working paper considers whether balanced budget rules affect spending at different levels of government; finds rules impose discipline on the states but have little impact on federal spending
Czech National Bank reports resilient financial system
Financial Stability Report finds Czech financial sector well prepared for unfavourable external developments; says growth likely to stagnate in 2012
Bank of Israel review shows mixed economic outlook
Review of economic developments gives mixed assessment of economic outlook; says growth below potential but inflation on target
Finnish business survey reports improvement in financing
Bank of Finland business survey reports slightly higher number of enterprises gaining new private external finance; but many small businesses still experiencing funding problems
Riksbank commentary challenges EC debt measure
Economic commentary assesses measure of private debt to GDP used by the European Commission in its February report on imbalances in the EU; says measure overestimates debt in Sweden
SNB reports on countercyclical capital buffer implementation
Swiss National bank report clarifies the central bank’s role in the implementation of a new countercyclical capital buffer in line with Basel III
Bank of Finland predicts weaker economic outlook
Latest economic outlook edition of Bank of Finland journal forecasts slowdown in Finnish GDP; highlights risks posed by increased current account deficit
MAS survey shows optimism about economy
Forecasting survey highlights positive views on economy in Singapore; GDP growth expected to strengthen over coming year
BoJ paper explains central bank’s money market operations
Paper examines Bank of Japan money market operations in fiscal 2011; says bank’s provision of funds maintained market confidence throughout year
Fed’s beige book shows continuing modest growth
Federal Reserve economic summary reports continuing growth across the US; describes moderate wage growth and inflation