Growth
Stronger growth improves financial conditions in Europe – ECB review
Manufacturing activity and consumer sentiment bolsters growth across the region
Implementation of new ECB rules on NPLs may be delayed
Daniele Nouy dismisses criticisms as “myths and misinterpretations”
Bank of Korea makes first hike in six years
Central bank triggers hiking cycle despite below-target inflation, as economy shows “solid” growth
Strong growth and lower unemployment allows Fed to normalise policy, Yellen says
Outgoing chairwoman adds policy is not preset and will depend on economic data
Slower health care price rises limiting US inflation, San Francisco Fed paper says
Medicare prices rise by 1.1% annually since 2012, compared with 3.5% in mid-2000s
Ultra-low rates hampered productivity in US, researchers find
A slower pace of policy normalisation can help boost productivity and growth
Bank of Mexico cuts growth forecasts for 2017 due to earthquakes
Renegotiation of Nafta is main downside risk for economy, outgoing governor Carstens says
European recovery may be stronger than previously thought
If the great recession and sovereign debt crisis are considered a single shock, “recovery is in line with – or better than – historical patterns”
‘Paradigm shift’ needed for S Korea, warns IMF paper
Authors say “big push” is needed toward implementing social protection and “greater” economic freedoms
Brexit uncertainty could shrink UK economy by 2% – BoE deputy
Negative effects of Brexit beginning to take effect, says Dave Ramsden
Fed’s Williams proposes new tools to deal with future crisis
Structural factors beyond central banks’ control keep natural rate of interest lower
Kuwait could create financial stability committee – IMF
The central bank could strengthen supervision by creating a new committee, say IMF staff; the country is weathering oil shocks well
US economy requires neutral policy – Atlanta Fed president
Although the labour market is approaching full employment, inflation remains subdued
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
ECB article warns of possible effects of a Chinese slowdown
Looser Chinese monetary policy in response to problems could have significant effect
Accommodative policies can continue in Europe due to weak inflation, IMF says
Reduction of non-performing loans in weak banks remains a priority
Norwegian policy normalisation is feasible – analysts
Uncommon combination of higher oil prices and weak currency offsets subdued consumer prices
BIS paper studies how weak banks beget zombie firms
Weak banks have a tendency to misallocate capital, authors find, though the effect is only important in the long run, in contrast to earlier studies
RBA cuts forecasts as inflation disappoints
The Reserve Bank of Australia expects to undershoot its inflation target for another year
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
German economic council urges ECB to tighten policy
Group of experts says stronger growth and loose policy could lead to higher financial risk
German central bank in Nazi era will be ‘special focus’ of independent study
Bundesbank funds research into twentieth century German central banks
AI adoption lag could explain productivity shortfall – research
Erik Brynjolfsson, Daniel Rock and Chad Syverson argue the productivity slowdown is not as surprising as it may seem, and there are reasons to be hopeful