Growth
Israel releases latest economic update
Inflation over whole of 2011 was 2.2%; country reached vicinity of full employment in the first half of last year
Brazil deputy governor positive about economic future
Aldo Mendes says Brazil is prepared to face global economic deterioration; expects to see final growth figure of 3% for 2011 announced soon
Sri Lanka remembers suicide bomb victims
New memorial unveiled at the Central Bank of Sri Lanka to mark 16th anniversary of bomb attack on the institution; governor says terrorists failed in aim to paralyse economic growth
Atlanta Fed paper finds low elasticity of intertemporal substitution
Federal Reserve Bank of Atlanta study shows levels of consumption growth are not very responsive to interest rate movements
Bangladesh Bank calls on government to borrow less
Bangladesh central bank wants to bring inflation to single digits and halt foreign currency reserve “depletion”; hopes government borrowing will not “crowd out” available liquidity in banking system
IMF fears eurozone crisis will stall global recovery
World Economic Outlook slashes growth projections for 2012 as downside risks to eurozone economy intensify; IMF warns spill-over effects could slow economic activity globally
Bank of Israel report highlights policy split on rate-setting body
Bank of Israel report of Narrow Forum discussion shows one member of monetary committee dissented against decision to hold rates, instead preferring a 25-basis-point cut
Sri Lanka holds rates on stable growth outlook
Central Bank of Sri Lanka Monetary Policy Review shows economy grew by 8.4% in the third quarter of 2011 due to strong agriculture, industry and services sector
Bank of Canada survey forecasts weaker sales growth this year
Bank of Canada Business Outlook Winter Survey shows outlook for sales growth in 2012 turns negative as demand continues to weigh on firms’ expectations
Philippines quarterly review brings mixed news
Central Bank of the Philippines reports lower than expected growth, but remains positive about economy’s outlook in latest Report on Economic and Financial Developments
IMF delivers gloomy Greece update
IMF releases Fifth Review Under the Stand-By Arrangement for Greece; offers a bleak picture of the country’s economy and future
Eurozone crisis catches up with Estonia
Bank of Estonia becomes latest central bank to cut growth expectations; says eurozone crisis could cause a recession in the country
Norges Bank regional network reports weakening markets
Latest reports from regional network of enterprises, organisations and local authorities reveal lower output growth and somewhat weaker market prospects in Norway
European uncertainty reflected in central bank decisions worldwide
Germany, Austria, India and South Korea lower growth estimates as a slew of countries hold interest rates; world looks on and waits to see if Europe can agree a solution to the sovereign debt crisis
Sluggish growth outlook forces ECB to take drastic action
European Central Bank lowers rates by 25 basis points as sovereign debt crisis weighs in on growth; Governing Council reveals new liquidity measures to ease funding conditions
Lagarde calls Arab Spring a ‘beacon of light’
Christine Lagarde expresses her hope for the countries affected by the Arab Spring uprisings; calls on international community to support the growth of economies in the region
Credit booms linked to financial crisis – IMF paper
IMF working paper shows credit growth becomes less dependent on bank soundness during boom periods
BoJ sees moderation in growth ahead
Bank of Japan November Report of Recent Economic and Financial Developments shows slowdown in global demand is expected to moderate pace of growth in Japan
Interest rate growth differentials matter for debt sustainability: IMF paper
Fund study says low values of interest rate growth differential in non-advanced economies provide strong support for debt sustainability
MAS’s Ong says insurance industry can aid growth
Monetary Authority of Singapore deputy managing director Ong Chong Tee says Asia’s growth prospects are at risk from events in developed countries
IMF paper highlights growth opportunities for Central America
Fund study says better regulation and more open markets can increase growth convergence in Central American countries
Chinese officials jailed over information leaks
Two government officials are given lengthy prison sentences; found to have leaked information on economic growth, retail sales and inflation figures
Fed’s Beige Book reports on fragile state of US economy
Federal Reserve Beige Book reports restrained employment conditions, as outlook for growth continues to be marred by uncertainty
RBI paper measures optimum inflation threshold
Reserve Bank of India study makes case for adoption of lower inflation target than current threshold level