Growth
US expansion set to continue despite trade disputes – Powell
Protectionism may still negatively affect economy, Fed chair concedes
Fed signals solid growth in report to Congress
FOMC members support gradual normalisation of monetary policy
Protectionism triggers ‘rising level of concern’ in US – Powell
Fed chair thinks it is difficult to predict the effect of trade barriers on the economy
Weak US productivity behind low wage growth – IMF
Declining labour share of income is another contributing factor
Bank of Canada hikes rate on solid growth
Tariffs on steel and aluminium expected to have modest effect on growth and inflation
Failed bank depositors to gain unrestricted access to funds – Sarb
Around 97% of retail depositors will be paid in full, the central bank says, as investigation into mismanaged bank continues
BoE’s latest big data project targets labour mismatches
Eliminating regional mismatch could have prevented productivity shortfall, researchers find
Fed paper builds dynamic factor model for nowcasting
Model produces “reasonably good” estimates of Ecuadorian GDP and outperforms other models
Higher capital ratios trade growth for stability – Philadelphia Fed paper
Better capitalised banks reduce lending rates, researcher says
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
Sri Lanka governor hits back at critics amid GDP muddle
Governor dismisses accusations that deputy made mistakes in compiling GDP figures
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Bank Indonesia surprises markets with aggressive rate hike
Markets had expected the central bank to opt for a smaller move in the policy rate
Haskel says BoE could benefit from focus on intangible capital
Productivity specialist says updated view of the economy could help with setting policy
Money matters for macro fluctuations – Fed paper
Working paper says previous research by Schularick and Taylor may have been flawed
PBoC cuts RRR amid growing instability
The move will release $108 billion amid concerns on the slowing economy and trade disputes
Norges Bank says rate hike likely in September
Key policy remains at 0.5% as inflation rises below target since February 2017
Report proposes mandating BoE to target productivity growth
UK opposition says BoE should not have to rely on interest rates to lower inflation; 3% productivity target would help push prices down, report says
Economy allows Fed to continue policy normalisation – Atlanta’s Bostic
Business contacts report concerns about trade policy and tariffs
RBA minutes drop hawkish language
Minutes of June meeting appear to contrast with recent remarks by governor Philip Lowe
Spain’s GDP growth set to decelerate – central bank
Waning monetary policy impact, higher oil prices and lower regional expansion behind deceleration
IMF forecasts lower US growth than Fed, Congress and White House
Stimulus expected to yield higher growth in the short term, but the benefits are likely to fade away from 2020
BoJ cuts inflation estimate as it holds rates
Goshi Kataoka is sole MPC member to call for looser policy
RBA unlikely to hike in short term on low inflation – governor
Current wage growth insufficient to hit inflation target on a sustained basis