Growth
‘Intensified’ tax competition will affect euro area – research
Latest ECB bulletin shows “possible erosion of tax bases” in the EU, after recent US tax reforms
EBA to test banks’ resilience in adverse Brexit scenario
Stress tests offer glimpse of how a crisis related to UK’s withdrawal from the bloc might emerge
Rates on hold after Yellen’s final FOMC meeting
New committee finds unanimity on rate hold, as Janet Yellen prepares to step down
Renminbi struggles to gain prominence on global stage – Swift
Chinese currency usage only accounted for 1.61% of domestic and cross-border payments in December 2017; digitisation may be the key to currency’s success
Carney rejects accusations of ‘cognitive bias’ at BoE
Parliamentary committee members say BoE relied on inaccurate forecasts before Brexit, affecting policy decisions
State Bank of Vietnam seeks to rein in credit growth
Target of 17% credit growth this year to contain risks
Inflation falls in the euro area despite stronger growth
Annual price increases expected to fall to 1.3% in January, Eurostat says
Colombia signals end to easing cycle
Despite stronger than expected inflation, board cuts interest rates by 25bp to 4.5%; US policy normalisation and elections could put pressure on the peso in 2018
Weaker dollar may indicate markets expect US slowdown
Weakening currency despite strong growth presents puzzle for policymakers
SBP hikes for first time since 2013
Monetary policy committee acts to “pre-empt” the overheating of Pakistan’s economy
Income convergence in reverse among original euro members, research says
Fall in income disparities halted soon after 2002 and started to increase after financial crisis
Bank Negara makes first rate hike since 2014
Bank Negara Malaysia is the first South-east Asian central bank to hike rates this year
Rebased ‘Maddison’ data reshapes economic history
New approach to measuring GDP per capita generates fresh insights from the long-run growth database
South Africa needs to press ‘reset button’ in 2018 – Mminele
Economy floundered after political instability harmed investor confidence; South Africa should capitalise on the upswing of 2018, says Sarb deputy
Davos experts weigh risks of future crisis
High debt levels, a rise in real interest rates and China are on the agenda for the panellists, who believe another financial crisis is inevitable
IMF chief economist warns against ‘complacency’
Recent economic upturn should not be viewed as “new normal”, Obstfeld says, arguing policymakers should be looking to shore up defences
ECB’s corporate bond-buying had positive effect in Spain, research says
Stimulus reduced yields for non-financial firms and increased credit to smaller companies
Bank of Canada raises rates as economy nears potential
Central bank hikes the policy interest rate 25 basis points to 1.25%
Bundesbank panellists call for change in German ‘mindset’
Mario Monti says he would like to free Germans from their economic “straightjacket”, while Benoît Cœuré hints at need for rebalancing
Bank of Korea on hold amid policy dilemma
Strong won and benign inflation likely to keep the BoK on hold in the first half of 2018
Kazakhstan cuts rates on low inflation and weak demand
Central bank reduces key rate to 9.75% from 10.25%, inflation below forecast in 2017
‘Goldilocks economy’ implies bears may not be far away – Menon
Despite reasons for optimism, “three grumpy bears” may soon return, says MAS chief
Morocco introduces a more flexible exchange rate
The central bank introduces a daily band of 5% for the dirham to trade against major currencies
Macroeconomists should integrate climate change data into their models, research finds
Paper calls for the use of scientific data on weather and the prediction of extreme climate events