Trade
RBA’s Stevens flags impact of flood on terms of trade
Reserve Bank of Australia governor Glenn Stevens says country building up capacity in iron ore, natural gas and coal
BoE: consumption volatility explains global decline in real interest rate
Bank of England study shows lower global real interest rates caused by higher consumption volatility in traded goods
SNB on how a taste for the home grown impacts trade
Swiss National Bank research examines how preference associated with “home market effects” impacts the aggregate volume of trade and welfare gains from liberalisation
Rand volatility a by-product of open economy: Sarb’s Mminele
South African Reserve Bank deputy governor Daniel Mminele says currency fluctuations are to be expected; stresses opposition to fixed exchange rate, dropping inflation targeting
National Bank of the Republic of Belarus – Annual Report (2009)
National Bank of the Republic of Belarus’ 2009 Annual Report shows worsening terms of trade
Beijing welcomes world into interbank capital market
People’s Bank of China grants foreign banks and central banks access to interbank bond markets for the first time; move inspired by need to internationalise the renminbi
Italy’s Draghi warns against protectionist measures
Bank of Italy governor Mario Draghi says trade relations have been set back due to financial crisis, leading to more protectionism
Central Bank of Peru - Annual Report (2009)
Peruvian central bank's 2009 Annual Report shows country recorded modest growth
Philly Fed: trade declines in US recession normal
Philadelphia Federal Reserve study shows that inventories stock created a buffer following declines in post-crisis trade
RBA: Lowe revises Australian economy recovery upward
Reserve Bank of Australia assistant governor Philip Lowe links renewed growth in Australia to improved terms of trade
RBA’s Stevens: Australia’s recovery investment led
Reserve Bank of Australia’s governor also flags the role of intra-region exports
Israel flags speedy recovery
Bank of Israel Annual Report shows GDP grew 0.7% in 2009; outpacing other advanced economies
Malaysia’s Zeti: savings will need to stay in Asia
Bank Negara Malaysia’s Zeti Akhtar Aziz says savings must be recycled regionally
Philly Fed: US export growth could have been greater in the 90’s
Philadelphia Federal Reserve study finds that movement of labour to smaller firms prevented greater export growth
Extra-euro trade growth tops intra-euro trade
Latest trade consistency exercise shows that Extra-euro dominates intra-euro growth in the last decade.
BOE paper: inflation co-movement linked to globalisation
New study into co-movement in inflation across industrialised countries links low-inflation rates to falling commodities prices
The calculus of international currency use
Hans Genberg analyses the costs and benefits of a currency being used beyond its issuer’s borders
Middle East and North Africa’s trade below potential
International Monetary Fund looks at trade constraints in the region
Joint fiscal stimulus does everyone good
Bank of Canada looks at the potential effect of the joint fiscal policy initiatives of the G20 in 2009 and 2010
New DSGE model for Estonia
Bank of Estonia makes public its new dynamic stochastic general equilibrium model for the domestic economy
Swiss govt must defend free trade – SNB’s Roth
Swiss National Bank’s Jean-Pierre Roth says weak growth, unemployment, public finance and inflation key future challenges