Growth
Bank of Spain warns Catalan crisis may cut growth by 60%
Uncertainty could imperil Spain’s recovery and reduce growth by 2.5% of GDP until late 2019
BIS paper surveys financial shocks in Latin America
Authors study the most effective policy response to financial shocks in different countries
Tinkering with rates will not bolster New Zealand employment
The New Zealand government would do well to remember why a single price stability mandate was established in the first place
Bank of England pulls trigger on rate hike
Committee split 7-2, but Carney strikes hawkish note on need for further hikes
ECB may change composition of QE, researchers say
Lower levels of sovereign bond acquisitions may allow the central bank to extend stimulus into 2019
Market structure affects monetary neutrality – paper
Minneapolis Fed research finds oligopoly undermines the neutrality of money, amplifying the real impact of monetary shocks
MAS unveils plans to transform financial service sector
Authority hopes road map will boost financial services growth to nearly double that of the overall economy
BoJ lowers inflation forecast as policy stays on hold
BoJ downgrades inflation forecast again, leaving tightening unlikely anytime soon
Ukrainian governor raises rates and warns government over IMF funding
Rate rise prompted by increased risk of government not co-operating with IMF, Smolii says
Xi faces macroeconomic dilemma after China’s party congress
The Chinese premier will have to work hard to avoid a 'Minsky moment', says Hui Feng
Venezuela replaces governor after less than two months in office
Constituent assembly appoints MP as economy battles hyperinflation and economic collapse
RBA looking to handle uncertainty better, says Debelle
Reserve Bank of Australia to change way it presents forecasts in order to avoid false impression of precision
ECB likely to extend QE despite stronger growth, analysts say
Central bank expected to prolong programme by six months at reduced monthly rate of €30 billion
IMF’s Lipton says global growth is not ‘strong enough’
Deputy director says some emerging markets risk getting left behind
RBI welcomes $32 billion public bank recapitalisation
Government unveils funding package designed to free India’s large public banks from a heavy burden of non-performing loans
Florens Luoga named new Bank of Tanzania governor
Tax lawyer and academic picked to head the central bank as Benno Ndulu completes second term
Bank of Israel grapples with low inflation
Latest figure is a welcome exit from deflation but the central bank does not expect prices to be back on target until 2018
Communication technology helps explain productivity puzzle – Fed paper
Properly accounting for ICT services produces “very large” boost to US labour productivity figures, authors say
Xi sees renminbi taking greater role in global monetary system
President Xi Jinping calls for quality and equality of growth rather than speed; flags plans to promote renminbi as global reserve currency
SBP notes caveats to decade-high growth
Expansion of Pakistan’s economy continued in fiscal 2017, although the central bank is concerned about a widening current account deficit
Higher rates contributed to recovery in Latin America – IDB economist
Less hawkish policies can fail to generate growth but push up inflation, research finds
OECD urges UK to maintain ‘close ties’ with EU
Latest assessment of UK economy warns of damaging impact of Brexit vote; Ángel Gurría says close future relationship “absolutely key”
Williams: weak productivity, population growth keep rates low
The “new normal” implies a federal funds rate at 2.5%, says San Francisco’s John Williams
Blanchard and Summers call for rethink of stabilisation policy
Both economists question consensus on fiscal prudence and advocate stricter financial regulation