Growth
IMF more upbeat on growth
Global economy now set to expand by 3.9% this year, according to World Economic Outlook Update
Croatia to take caution in 2010: Rohatinski
Croatian National Bank’s Željko Rohatinski expects growth lull, shift in spending attitudes
Bank of Italy – Economic Bulletin January 2010
Bank of Italy – Economic Bulletin January 2010 Bank of Italy says recovery will be sluggish in 2010 and 2011
Korea holds amid concern over government influence
Bank of Korea leaves the cost of borrowing at 2% for 11th straight month; concern that presence of a minister at meetings will curtail independence
Leverage and productivity in emerging European economies
A Centre for Economic Policy Research paper published in December argues that while moderate leverage increases growth, excess leverage can dampen it
Bundesbank – Monthly report (Nov 2009)
German central bank’s monthly report documents the manufacturing-led recovery in global trade and stresses the need for fiscal consolidation in 2010
Inflation targeting insufficient: China’s Zhou
People’s Bank of China’s Zhou Xiaochuan says targeting low inflation alone is inadequate, particularly in light of the financial crisis
Massive debts will stunt growth: Reinhart and Rogoff
Carmen Reinhart and Kenneth Rogoff say on current debt trends, growth rates are set to fall substantially in four years’ time
RBI’s Gokarn on maintaining India’s recovery
Reserve Bank of India’s Subir Gokarn charts drivers and threats to growth
BoJ partly to blame for lost decade: CEPR paper
CEPR looks at the contribution of the stock of money to the macroeconomic outcomes of the 1990s http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=7608
China to maintain “moderately loose” policy
People’s Bank of China indicates rates will be kept low for some time to support growth and stability; statement echoes the pledges of central economic conference
Australia benefiting from Asian strength: Battellino
Reserve Bank of Australia deputy governor Ric Battellino says strong domestic demand in Asia has driven growth, and allowed the region to forge ahead of the North Atlantic in recovery
Growth determinants revisited
International Monetary Fund research returns to the issue of cross-country growth empirics debate using a novel model
Turkey gets sovereign debt, currency upgrades
Fitch Ratings raises Turkey’s long-term sovereign debt and currency ratings to BB+, taking them just outside investment grade
CentralBanking.com readers divided on recovery
CentralBanking.com subscribers split on time it will take to return to trend levels of growth snapshot shows
Fiscal stimulus crucial for recovery
Centre for Economic Policy Research (CEPR) compares the Great Depression with the global credit crisis
Recovery will be fragile and unpredictable: Bank’s Sentance
Bank of England’s Andrew Sentance says also that fiscal consolidation may not be as bad as expected
Czech National Bank – November Inflation Report
Monetary policy relevant inflation will be below headline inflation, which is expected to reach just above 2% towards the end of next year
OECD hikes growth forecasts
Paris-based organisation raises its growth forecasts for next year and publishes 2011 expectations, citing the momentum of the recovery in non-members such as China
RBA: economy at greater capacity than expected
Minutes of the Reserve Bank of Australia’s November meeting show rate-setters’ optimism and explain their decision to implement second rate hike
Monetary policy impacts effect of fiscal aid
Kansas City Federal Reserve studies the interactions between monetary and fiscal policy
QE working, but growth levels to remain anaemic: Bank
Bank of England confident quantitative easing having some impact; more bullish on growth but stresses slack is set to stay until beyond forecast period
Public banks good for growth
Central Bank of Cyprus finds that government ownership of banks has been associated with better long-run growth performance
Spain must step carefully on the road to recovery
Bank of Spain’s Miguel Fernandez Ordonez says domestic economy and financial sector face challenges ahead