Growth
Central Bank of Brazil cuts rates as uncertainty persists
Monetary policy committee votes unanimously for 50-basis-point rate cut; further reductions remain a possibility
Impending drop in economic growth, warns South African research
South African Reserve Bank working paper uses new model to analyse financial conditions; finds conditions have declined and threaten GDP growth
Philippines governor expounds importance of consumer protection
Central Bank of Philippines’ Amando Tetangco emphasises the value of consumer protection; says it works in tandem with financial stability
Fed’s beige book reveals increased economic activity
US Federal Reserve economic summary reports expanding economic activity in the US; credit conditions said to be improving
Mohanty says India must play catch-up
Reserve Bank of India executive director calls for efforts to recapture India’s pre-crisis growth rate; lays out income target and challenges
National Bank of Hungary cuts rates despite high inflation
Central bank cuts policy rate amid worsening growth figures and weak outlook; however, inflation expected to remain above 3% target “over a sustained period”
Can Japan afford to grow?
Japan has managed to maintain living standards during its two ‘lost decades’, but its efforts to do so now represent obstacles to achieving sustainable growth. By Ryo Watabe.
Dallas Fed research questions Chinese growth data
Economic letter uses proxy for industrial production to estimate Chinese growth; suggests official figures may understate the extent of the slowdown
BoJ’s Shirakawa calls for 'drastic deregulation' to promote growth
Masaaki Shirakawa sets out possibilities for encouraging increased investment to promote growth and inflation expectations; firms reluctant to borrow despite monetary easing
Riksbank deputy describes “surprisingly strong” economy
Kerstin af Jochnick says Swedish economy has performed well during the past quarter, but weak performance in the eurozone has caused large appreciation of krona and uncertain inflation path
Carney discusses the “right kind” of globalisation
Governor of the Bank of Canada explains how globalisation can be harnessed to create prosperity for Canadians; says responsibility for past mistakes lay with many parties
Bank of Namibia cuts rates due to uncertain economic outlook
Central bank reduces benchmark rate by 50 basis points; says cut necessary to support economy despite inflationary pressure and “rapid” growth in consumer credit
BoJ unveils international investment position in 2011
Japanese central bank research paper shows a rise in country’s net assets; both external financial assets and external liabilities increase
IMF paper studies monetary impact of household production
Working paper designs model that adds a household sector to the economy, which competes with firms in the service sector; finds this amplifies the transmission of monetary shocks
Malaysian growth rate exceeds target
Report published by Bank Negara Malaysia on economic developments in second quarter shows increase in growth beyond level forecast in annual report; central bank expects trend to continue
IMF working paper warns of dangers in sovereign debt restructuring
Researchers find debt restructurings have adverse impact on economic growth; say debt sustainability is a crucial consideration
Cleveland Fed researchers suggest moderate growth may persist
‘Economic Trends’ research highlights possibility of a slowdown in US trend rate of growth; economy shows modest version of previous recoveries
Central Bank of Tunisia report explores impact of revolution
Annual report for 2011 reveals a sharp drop in production and exports post-revolution; economic growth fell to -1.8%, says central bank
Asian Development Bank opens office in Myanmar
Asian Development Bank furthers "re-engagement" with Myanmar by opening an office; alternate executive director from the country also joins ADB board of directors
Central Bank of Barbados governor praises government’s fiscal strategy
DeLisle Worrell says Barbadian government’s policy strategy is appropriate to the ‘economic reality’; follows downgrade of sovereign debt to BB+ in July
Estonian growth recovery 'relies' on eurozone governments' action
Estimates for Estonian growth rely on eurozone governments acting to ease the ongoing uncertainty, says central bank economist Kaspar Oja; domestic demand stays strong nevertheless
IMF paper finds evidence in favour of ‘Chicago Plan’
Researchers analyse benefits of requiring 100% reserve backing of bank deposits and lending financed by retained earnings; argue evidence supports four major advantages of plan
RBA reveals brighter growth outlook
Reserve Bank of Australia improves 2012 growth estimate; strong figures offset by uncertainty regarding external developments and possible upward trend for inflation
Bollard sets out vision of ‘new world’ economy
Governor of the Reserve Bank of New Zealand warns shift of global economy in favour of emerging Asia brings both risks and benefits; says attitudes towards debt have become more cautious