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....Presumably, sticking to a deficit-reduction plan that isn’t working fits with May’s “strong and stable” mantra. But, in truth, the wrong mix of monetary and fiscal policy has left the economy weak and unstable. ... [Read full article on Guardian ]
Sunday 28th of May 2017 12:14:58 PM
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Latest Finance News related to Fiscal Policy

Why the global markets are ignoring the global turmoil | Nouriel Roubini image
.... During previous Middle Eastern conflicts – such as the 1973 Yom Kippur war, Iran’s Islamic revolution in 1979, and Iraq’s invasion of Kuwait in 1990 – oil-supply shocks caused global stagflation and sharp stock-market corrections. A second explanation is that investors are extrapolating from previous shocks, such as 9/11, when policymakers saved the day by backstopping the economy and financial markets with strong monetary and fiscal policy easing. ...
The Guardian view on the Bank of England: independence and accountability | Editorial image
.... Even so, the recovery from the recession has been feeble. Productivity growth has been woeful and the balance between a loose monetary policy and a tight fiscal policy has been wrong. ...
Can Emmanuel Macron solve France's economic riddle? | Larry Elliott image
Source : Guardian [Read Article] Sunday 30th of April 2017 10:23:32 AM
....This has been the standard explanation of France’s economic woes ever since the abandonment of Keynesianism in the early 1980s. The abiding economic orthodoxy has held that low inflation should be the sole aim of macro-economic policy and should be achieved through control of the money supply; that fiscal policy - changes to tax and spending - is ineffective; and that the economy is a self-adjusting mechanism that will revert to full employment provided prices and wages are flexible. ...
South Africa's credit rating has been cut to junk status image
Source : BBC [Read Article] Monday 3rd of April 2017 11:11:12 AM
.... . "We will stay the course in terms of the fiscal policy stance approved by government," the new minister said. ...
London's leading shares lose ground image
Source : BBC [Read Article] Wednesday 22nd of March 2017 08:45:47 AM
.... . "This is a classic risk-off move - people fly to safety, to the names that they know, as they reprice their fiscal policy outlook," said JP Morgan Asset Management's Alex Dryden. ...
U-turn over Budget plan to increase National Insurance image
Source : BBC [Read Article] Wednesday 15th of March 2017 12:30:48 PM
....He would use the Autumn Budget to set out further measures to "fund in full" the £2bn lost from NICs, he said. But Tom McPhail, Hargreaves Lansdown's head of retirement policy, argued the U-turn would increase pressure in other areas of fiscal policy - and "may increase the risk of further pension tax tinkering in the Autumn Budget". ...
It’s not true that the top 1% pay 27% of tax | Letters image
Source : Guardian [Read Article] Friday 10th of March 2017 06:14:35 PM
.... The three deciles below them, the real middle class by income, pay 40% of all taxes. Equating tax with income tax alone is dangerous as well as wrong because it serves to justify the self-interested domination by the real elite by wealth and income of British fiscal policy and politics in general. ...
UK growth forecast for 2017 revised up image
Source : BBC [Read Article] Wednesday 8th of March 2017 02:12:25 PM
...."If we are right in expecting the economy to remain rather more resilient than the OBR expects, then public borrowing will clearly fall rather faster and give the chancellor more elbow room," he said. "For now though, the big picture is still one of a substantial further tightening of fiscal policy over the coming years. ...
UK borrowing and growth better than expected for budget, says report image
Source : Guardian [Read Article] Monday 20th of February 2017 07:00:31 AM
.... EY said the watchdog was unlikely to make any substantial changes to its longer term forecasts, owing to the uncertainty surrounding Britain’s future status outside the EU. Martin Beck, senior economic advisor to the EY Item Club, said: “The OBR will paint a marginally better picture of the UK economy and public finances in the short term, but fiscal policy faces major challenges on both the revenue and spending sides in the longer term. ...
Senators grill Janet Yellen on Republican plans to neuter Dodd-Frank Act image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:35:18 PM
.... Yellen told the Senate banking committee that “waiting too long would be unwise” and could trigger a recession if the Fed was forced to raise rates rapidly, disrupting financial markets. The Fed chairwoman painted a largely positive picture of the US economy but warned that “changes in fiscal policy or other economic policies could potentially affect the economic outlook”. ...
Trump’s honeymoon with the stock market will soon be over | Nouriel Roubini image
.... Inflation will then force even Janet Yellen’s dovish Federal Reserve to hike up interest rates sooner and faster than it otherwise would have done, which will drive up long-term interest rates and the value of the dollar still more. Third, this undesirable policy mix of excessively loose fiscal policy and tight monetary policy will tighten financial conditions, hurting blue-collar workers’ incomes and employment prospects. ...
It’s time to rewrite the rules of economics to end the growing chasm of inequality  | Liam Byrne image
.... Thanks to Thomas Piketty and his colleagues, we also know that today’s kings are asset owners, not wage earners. Our combination of hyper-loose monetary policy and tight fiscal policy means that the asset-rich get richer while the asset-and-income-poor get battered. ...
UK house prices to rise marginally in 2017, says Halifax image
Source : Guardian [Read Article] Wednesday 28th of December 2016 12:01:20 AM
....Tom Bill, Knight Frank’s head of London residential research, said: “Wider economic sentiment has been overshadowed by the UK’s decision to leave the European Union and the election of Donald Trump. However, the more mundane reality of fiscal policy remains the single biggest curb on demand in the prime London property market. ...
US economic growth revised even higher image
Source : BBC [Read Article] Thursday 22nd of December 2016 02:06:48 PM
.... . "With the incoming president's fiscal policy largely yet to take shape, a period of cautious optimism will likely remain for some time. ...
MPs are right to question Bank of England's monetary policy image
Source : Guardian [Read Article] Thursday 22nd of December 2016 01:26:00 PM
.... It certainly should. Monetary policy has been hyperactive while fiscal policy – tax and spending – has been sucking demand out of the economy. ...
Trump must overcome global barriers to deliver his economic promise | Mohamed El-Erian image
.... This has enabled the US Federal Reserve to begin to normalise its monetary policy stance; in addition to a 25-basis-point interest rate hike on 14 December, the Fed has indicated that the pace of such rises will accelerate in 2017. As a result, markets seem convinced that the US will gradually exit its prolonged period of excessive reliance on unconventional monetary policy, replacing it with a mix of looser fiscal policy and pro-growth structural reforms an approach much like that pursued by Ronald Reagan. ...
The Fox-Sky row isn’t going away, no matter how much ministers ignore it image
Source : Guardian [Read Article] Sunday 18th of December 2016 06:59:44 AM
.... Wall Street bulls quickly discovered a silver lining: Trump’s plan to cut taxes and increase spending on America’s creaking infrastructure. Dealers in New York think looser fiscal policy means stronger US growth, which in turn will lead to higher profits for companies quoted on Wall Street. ...
UK interest rates are going nowhere in 2017 image
Source : Guardian [Read Article] Thursday 15th of December 2016 01:22:56 PM
.... Growth and inflation are both picking up and the US president-elect, Donald Trump, is planning tax cuts and extra spending on infrastructure. The normal rule of thumb is that looser fiscal policy should be offset by tighter monetary policy, hence the suggestion there could be three interest-rate rises in the US next year. ...
Bank of England leaves UK interest rates on hold at 0.25% image
Source : Guardian [Read Article] Thursday 15th of December 2016 12:09:10 PM
....“Since November, long-term interest rates have risen internationally, including in the United Kingdom. In part, this reflects expectations of looser fiscal policy in the United States which, if it materialises, will help to underpin the slightly greater momentum in the global economy evident in a range of data since the summer. ...
Will Trump herald a US economic boom? image
Source : Guardian [Read Article] Wednesday 7th of December 2016 11:57:31 AM
....On the other hand, if the US economy really does have massive quantities of underutilised and unemployed resources, the effect of Trump’s policies on growth could be considerable. In Keynesian jargon, there is still a large multiplier on fiscal policy. ...
Mark Carney's history lesson shows we haven't learned on globalisation image
Source : Guardian [Read Article] Monday 5th of December 2016 07:13:25 PM
.... In the emerging world, 1 billion people have been taken out of poverty but in many advanced economies globalisation has come to mean, according to Carney, “low wages, insecure employment, stateless corporations and striking inequalities”. His solution to the problem is threefold: an acceptance by economists that not everybody has gained from trade and technology; a better mix of monetary policy, fiscal policy and structural reform to boost growth; and more inclusive growth. ...
Mark Carney: we must tackle isolation and detachment caused by globalisation image
....“First economists must clearly acknowledge the challenges we face, including the realities of uneven gains from trade and technology,” he said. “Second, we must grow our economy by rebalancing the mix of monetary policy, fiscal policy and structural reforms. ...
Protectionism and trade disputes threaten world growth, says OECD image
Source : Guardian [Read Article] Monday 28th of November 2016 10:00:26 AM
....“Monetary policy is overburdened, leading to growing financial risks and distortions. Alongside structural reforms, a stronger fiscal policy response is needed to boost near-term growth and strengthen long-term prospects for inclusive growth. ...
Chancellor's looser finance targets highlight weaker UK economy image
Source : Guardian [Read Article] Thursday 24th of November 2016 08:00:28 AM
.... Likewise, cuts to further education colleges, the police, the courts service and many other public services remain in place. Some analysts said they were surprised the chancellor chose, in the face of significant extra borrowing, to loosen fiscal policy further by funding a series of infrastructure projects. ...
The chancellor has failed to provide a clear direction on Brexit | Alistair Darling image
.... The new fiscal rules are necessary because the chancellor will need every bit of flexibility he can find. If the government is going to borrow at that rate, it will have to maintain a credible fiscal policy. ...
Can Trump strike the right balance on monetary policy? image
Source : Guardian [Read Article] Friday 18th of November 2016 10:42:32 AM
....If Trump does choose a more hawkish monetary policy approach, it will have an ambiguous impact on the dollar, owing to his other proposals’ downstream effects. Looser fiscal policy and tighter monetary policy should, as in Ronald Reagan’s first term, strengthen the dollar, but if Trump pushes the US toward protectionism, he will generate economic and geopolitical tail risks that would weaken the dollar and increase US country risk. ...
Brexit exposed? image
Source : BBC [Read Article] Thursday 17th of November 2016 12:14:34 AM
....But that would be an extraordinary situation. So while there may be interesting details of the government's fiscal policy announced in the Autumn Statement, the most interesting part will be contained in what the OBR does or doesn't tell us about the government's plans for our future relationship with the EU. ...
Trumpism could be a solution to the crisis of neoliberalism image
Source : Guardian [Read Article] Tuesday 15th of November 2016 08:17:32 AM
....Trump has also promised an $800bn-$1tn programme of infrastructure investment, to be financed by bonds, as well as a massive corporation tax cut, both aimed at creating 25m new jobs and boosting growth. This, together with a pledge to maintain welfare entitlements, amounts to a modern form of Keynesian fiscal policy (though of course not identified as such). ...
Global bonds slump as Trump prompts inflation fears image
Source : Guardian [Read Article] Monday 14th of November 2016 07:41:17 PM
....Financial markets, however, think the reflationary package will also push up the cost of living and force the Federal Reserve, the US central bank, to raise interest rates more rapidly than had been expected. Adam Slater of Oxford Economics said: “The US election has prompted a sharp re-pricing of many financial assets, based on expectations of a significant shift in US fiscal policy. ...
Trump: A New Economic Policy for the US? image
Source : BBC [Read Article] Friday 11th of November 2016 08:58:29 PM
.... . But what about support from the government budget, or fiscal policy? Tax cuts and spending can be used to provide economic stimulus. ...
US voters chose candidate with a more radical approach to economy image
Source : Guardian [Read Article] Wednesday 9th of November 2016 07:53:12 PM
.... It will take all Trump’s marketing skills to persuade some of the fiscal conservatives in the Republican party that his sums add up. A looser fiscal policy that leads to stronger growth and higher inflation is also certain to elicit a response from the Federal Reserve. ...
Globalisation backlash enters new phase with Trump win image
Source : Guardian [Read Article] Wednesday 9th of November 2016 10:09:27 AM
.... US borrowing costs are likely to stay lower for longer. Trump’s views about fiscal policy – tax, spending and the budget deficit – are not entirely clear, but he seems to want lower taxes, higher spending on America’s clapped-out infrastructure and defence, and less federal borrowing. ...
In Brexit Britain there will be no benefit caps for the multinationals | Aditya Chakrabortty image
.... Within two weeks he has a face-to-face with the prime minister. The UK has just opted to sever four decades of relations with its biggest trading partner, the government has no fiscal policy and her own party is in turmoil – yet May still clears her diary for the Nissan boss. ...
UK government borrowing falls in August image
Source : BBC [Read Article] Wednesday 21st of September 2016 08:58:40 AM
....The ONS added there was no clear sign of the Brexit vote affecting figures. Chancellor Philip Hammond has said he may have to reset fiscal policy to offset any negative outcome from the vote. ...

Strictly is tougher than fiscal policy, Mr Balls 
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Source : Telegraph [Read Article] Saturday 13th of August 2016 05:30:00 PM
....Back to Mr Balls. It is to be hoped he makes a better fist of the foxtrot than he did of fiscal policy. ...

Britain will cover cost of billions in EU subsidies for farming, science and deprived areas after Brexit, Chancellor announces
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....However ministers has suggested that Britain will be able to reach a compromise in which it will still enjoy access to the Single Market without being a fully-fledged member. The Chancellor has said that he will use his Autumn Statement to “reset” Britain’s fiscal policy in the wake of the historic vote to leave the European Union. ...

Philip Hammond still needs to be a deficit hawk
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Source : Telegraph [Read Article] Wednesday 27th of July 2016 09:28:21 AM
....We are now around eight years from the financial crash and government borrowing is being reduced at a painstakingly low rate. To make matters worse, the new Chancellor of the Exchequer is talking about “resetting” fiscal policy. ...

I don't know if there is any way to save the Labour Party anymore
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Source : Telegraph [Read Article] Monday 25th of July 2016 10:46:24 AM
.... Back in September, conventional wisdom amongst self-described “moderates” was that the party must signal their economic competence to voters by showing support for the Conservatives’ austerity agenda. A little under a year later, David Cameron has been replaced by Theresa May and Chancellor Philip Hammond is promising to “reset” fiscal policy. ...

Philip Hammond has 'no doubt' Britain will be able strike free trade deal with China 
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....”. It comes after Mr Hammond indicated last week that he is prepared to “reset” fiscal policy with tax cuts or borrowing to invest in infrastructure. ...

Liam Fox warns Britain must not 'put off big decision' on whether to build third runway at Heathrow  
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....The purchasing managers index, which is considered one of the best indicators of the health of the economy, fell to its lowest level since April 2009. Responding to Mr Hammond's announcement that he is prepared to "reset" Britain's fiscal policy, Dr Fox said: "One of our selling points has been that we are one of the few Western nations committed to getting to a balanced Budget. ...

Philip Hammond prepared to 'reset' George Osborne's economic policy in Autumn Statement
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.... . Mr Hammond said on Friday: "Over the medium term we will have the opportunity with our Autumn Statement, our regular late year fiscal event, to reset fiscal policy if we deem it necessary to do so in the light of the data that will emerge over the coming months. ...
Chancellor may 'reset' economic policy in Autumn Statement image
Source : BBC [Read Article] Friday 22nd of July 2016 07:39:08 AM
....Before becoming Prime Minister, Theresa May had said that the government would no longer seek to reach a surplus by 2020. Mr Hammond said on Friday: "Over the medium term we will have the opportunity with our Autumn Statement, our regular late year fiscal event, to reset fiscal policy if we deem it necessary to do so in the light of the data that will emerge over the coming months. ...

What is the correct fiscal policy now
we want Out?
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Source : Telegraph [Read Article] Sunday 10th of July 2016 08:44:42 PM
...
Related to :
EU must encourage labour mobility, says OECD image
Source : Guardian [Read Article] Friday 10th of June 2016 09:00:18 AM
....“Very supportive monetary policy has helped growth to pick up gradually over the past two years, and contributed to reduce tensions in sovereign debt markets. The effect of fiscal policy on demand has turned broadly neutral. ...
Why the global economy may need to get worse before it gets better image
Source : Guardian [Read Article] Wednesday 1st of June 2016 11:48:57 AM
.... It wants something done to break the cycle of low productivity, low wage growth and low investment. What the OECD wants is for the one-legged stool of hyperactive monetary policy to be replaced by a three-legged stool in which central banks get some support from fiscal policy and from structural reform. ...
UK retailers expect sales to fall in EU referendum month image
Source : Guardian [Read Article] Tuesday 24th of May 2016 01:17:26 PM
....Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the caution was understandable. “With household real income growth slowing this year in response to rising inflation, slower job growth and tighter fiscal policy, we think retailers are right to prepare for choppier waters ahead. ...
George Osborne, the really unfortunate chancellor image
Source : Guardian [Read Article] Sunday 22nd of May 2016 11:15:18 AM
.... That is a twin deficit problem with a vengeance. Hugh Dalton and Sir Stafford Cripps provided the template for how to cope with a twin deficit problem: stimulate growth through low interest rates while simultaneously tightening fiscal policy to bring down the budget deficit and to keep inflation in check. ...
Has the global economic growth malaise become the 'new normal'? image
Source : Guardian [Read Article] Monday 2nd of May 2016 10:31:29 AM
....It will be no less difficult to leave behind unconventional monetary policies, as the US Federal Reserve recently suggested by signaling that it will normalise policy interest rates more slowly than expected. Meanwhile, fiscal policy – especially productive public investment that boosts both the demand and supply sides – remains hostage to high debts and misguided austerity, even in countries with the financial capacity to undertake a slower consolidation. ...
Has the global economic growth malaise become the 'new normal'? image
Source : Guardian [Read Article] Monday 2nd of May 2016 10:31:29 AM
....It will be no less difficult to leave behind unconventional monetary policies, as the US Federal Reserve recently suggested by signaling that it will normalise policy interest rates more slowly than expected. Meanwhile, fiscal policy – especially productive public investment that boosts both the demand and supply sides – remains hostage to high debts and misguided austerity, even in countries with the financial capacity to undertake a slower consolidation. ...
Brexit would cost UK households £2,200 by 2020, says OECD image
Source : Guardian [Read Article] Wednesday 27th of April 2016 09:30:01 AM
....4% of GDP per year after Brexit. Describing this as a “relatively small amount”, the OECD added: “Lower GDP growth would weigh on the fiscal position significantly, limiting the scope to use the net EU budget savings to relax fiscal policy. ...
‘We don’t work for Germany!’ ECB lashes out as ‘interfering’ Merkel loses patience with EU image
.... In another snipe, he also laid some of the blame for the eurozone's struggling economy at the feet of governments. He said the region's economy would be on a more solid footing if fiscal policy and more ambitious reforms were pushed through. ...
Job market catches up with the real UK economy image
Source : Guardian [Read Article] Wednesday 20th of April 2016 09:48:59 AM
.... The period covered by the latest data – November 2015 to February 2016 – predates the decision by the government to hold an in-out vote. More likely explanations for the softening of the labour market are the easing off in global activity, the impact of tighter fiscal policy, and a waning in the sugar-rush boost to the economy provided in 2014 and early 2015 from the housing market. ...
Boom in UK spending to drive growth image
Source : Daily Express [Read Article] Sunday 17th of April 2016 04:48:00 PM
....5 per cent this year. While consumers have benefited the most from low inflation as a result of oil and commodity price falls, fiscal policy is already tightening and inflation will begin to move back towards the 2 per cent CPI target as commodity prices start to pick up again. ...
IMF urges more spending to boost growth image
Source : Guardian [Read Article] Sunday 17th of April 2016 03:08:09 PM
....The committee said a more “forceful and balanced policy mix” was needed to stimulate growth and avoid deflation and emphasised that monetary policy alone was not enough. “Growth-friendly fiscal policy is needed in all countries,” it said, adding that accommodative monetary policies should continue in several advanced economies and structural reforms should be implemented with policies that support demand and help displaced workers. ...
Global economic NOSEDIVE: Fears of crash as China's economy hits lowest level since 2009 image
....Economist Intelligence Unit economist Tom Rafferty said: "Today's released data ought not to distract from the fact that the structural issues facing China's economy remain unresolved. "It has taken considerable monetary and fiscal policy loosening to stabilise economic growth at this level and this effort has distracted from the reform agenda that is fundamental to long-term economic sustainability. ...
The super rich live in a parallel world; here's how we bring them back to reality image
....Particularly disheartening – that’s the most diplomatic word I can find at the moment – is David Cameron’s situation. As British prime minister, he is responsible for shaping his own country’s fiscal policy and determining just how to apply taxes, how to collect them and how severely to punish those who he deems don’t comply. ...
Central banks are still the only game in town image
Source : Guardian [Read Article] Friday 1st of April 2016 03:02:51 PM
....Unfortunately, the political economy of most structural reforms – with their front-loaded costs and back-loaded benefits – implies that they occur only slowly. At the same time, fiscal policy has been constrained in some countries by high deficits and debts (which jeopardise market access), and in others (the eurozone, the United Kingdom, and the United States, for example) by a political backlash against further fiscal stimulus, leading to austerity measures that undermine short-term growth. ...
Source : Reuters [Read Article] Thursday 31st of March 2016 11:03:30 AM
...."Central banks are not able to stimulate growth in the long run just by implementing low or negative interest rates," said Jan Bopp, an asset allocation strategist at Bank J Safra Sarasin. "What is needed now are fiscal policy measures. ...
Source : Reuters [Read Article] Thursday 31st of March 2016 11:03:30 AM
...."Central banks are not able to stimulate growth in the long run just by implementing low or negative interest rates," said Jan Bopp, an asset allocation strategist at Bank J Safra Sarasin. "What is needed now are fiscal policy measures. ...
Only structural reform can halt Europe’s emerging bubbles image
Source : Guardian [Read Article] Tuesday 29th of March 2016 07:57:35 AM
.... The Japanese government, for its part, has followed such a relentless policy of deficit spending that public debt jumped from 67% of GDP to 246% of GDP today, with the latest upward push provided by the dubious “Abenomics” economic strategy being pursued by prime minister Shinzo Abe’s government. None of this has helped, because neither monetary nor fiscal policy can substitute for structural reform. ...
As monetary policy reaches its limits, it's time for governments to spend image
.... And an exceptional spate of budget deficits following German reunification in 1990 appeared only to aggravate, not solve, reunified Germany’s structural problems. Ultimately, hostility to the use of fiscal policy, as with many things German, can be traced to the 1920s, when budget deficits led to hyperinflation. ...
ECB cuts interest rates to zero amid fears of fresh economic crash image
Source : Guardian [Read Article] Thursday 10th of March 2016 08:32:28 PM
....Draghi’s comments reflected evidence that “the effectiveness of monetary policy is clearly diminishing”, said Alasdair Cavalla at the consultancy the Centre for Economics and Business Research. “Draghi threw down the gauntlet to fiscal policymakers today, arguing for infrastructure spending while lowering the ECB’s own growth forecasts,” said Cavalla. ...
ECB can only buy time, not solve eurozone growth woes image
Source : Guardian [Read Article] Thursday 10th of March 2016 04:57:56 PM
....Draghi knows that monetary policy – interest rates, quantitative easing and incentives to borrow – can only do so much. He would like his actions to be supported by structural reform and a more aggressive use of fiscal policy. ...
ECB cuts eurozone interest rate to zero to jump-start economy image
Source : Guardian [Read Article] Thursday 10th of March 2016 01:02:19 PM
....Those comments reflected evidence that “the effectiveness of monetary policy is clearly diminishing”, said Alasdair Cavalla at the consultancy Centre for Economics and Business Research. “Draghi threw down the gauntlet to fiscal policymakers, arguing for infrastructure spending while lowering the ECB’s own growth forecasts,” said Cavalla. ...
China cuts 2016 growth target amid continued economy concerns image
Source : Guardian [Read Article] Saturday 5th of March 2016 01:46:41 AM
....Li’s speech pledged that authorities would make much-needed cuts to overcapacity in the steel, coal, and “other industries facing difficulties”. The country’s leaders have sought to reassure jittery global markets in recent weeks with a unified message that authorities still have monetary and fiscal policy tools in their arsenal to keep the economy from further slowdown. ...
Is the world economy having a 2008 moment? image
Source : Guardian [Read Article] Wednesday 2nd of March 2016 02:11:00 PM
....At the same time, the policies that stopped and reversed the doom loop between the real economy and risk assets are running out of steam. The policy mix is suboptimal, owing to excessive reliance on monetary rather than fiscal policy. ...
Source : Reuters [Read Article] Friday 26th of February 2016 09:49:19 AM
....Carney said central banks were not able to take the world economy into a period of higher growth on their own and there was a need for domestic and international policy coordination. "For example, lower interest rates create space for fiscal policy to boost domestic demand directly, should it be necessary, by lowering the financing cost faced by governments," he said. ...
Examining Keynes's legacy, 80 years on image
Source : Guardian [Read Article] Friday 26th of February 2016 09:48:44 AM
.... The shift was due less to rejection of Keynesian policy than to hostility toward the enlarged state that emerged after the second world war. Keynesian fiscal policy was caught in the crossfire, with many on the right condemning it as a manifestation of “excessive” government intervention in the economy. ...
Chinese central bank chief hints at more stimulus for slowing economy image
Source : Guardian [Read Article] Friday 26th of February 2016 02:28:52 AM
....Related: The truth behind China's exchange rate delusion. China had more room and tools in its monetary policy to tackle downward pressure in the economy, and its fiscal policy would be more proactive, central bank governor Zhou Xiaochuan said on Friday. ...
IMF urges G20 to take 'bold action' on global economy image
Source : Guardian [Read Article] Wednesday 24th of February 2016 08:07:18 PM
....“A comprehensive approach is needed to reduce over-reliance on monetary policy,” it said. “In particular, near-term fiscal policy should be more supportive where appropriate and provided there is fiscal space, especially through investment that boosts both the demand and the supply potential of the economy. ...
How 'negative interest rates' marked the end of central bank dominance image
Source : Telegraph [Read Article] Sunday 21st of February 2016 08:39:21 PM
.... Narayana Kocherlakota, former president of the Minneapolis Federal Reserve, has said that “going negative is daring but appropriate” in the US, given the weakness of inflation. However, “it is a sign of a terrible policy failure by fiscal policymakers”. ...
Central bankers on the defensive as weird policy becomes even weirder image
Source : Guardian [Read Article] Sunday 21st of February 2016 02:00:28 PM
....Economic policy quickly became lopsided. For a brief period, fiscal policy was used to cut taxes and increase public spending but the general approach since the crisis has been for monetary policy to remain ultra loose and for budgets to be kept tight. ...
The truth behind China's exchange rate delusion image
Source : Guardian [Read Article] Thursday 18th of February 2016 01:24:52 PM
....Establishing policy credibility will require diminishing the muddled microeconomic incentives of state control and guarantees. It will also require reinvigorating aggregate demand by targeting fiscal policy to support the emerging economic sectors that will underpin the new growth model. ...
World risks being sucked into 'self-fulfilling' spiral, warns Moody's image
Source : Telegraph [Read Article] Thursday 18th of February 2016 05:00:23 AM
.... “Where government budgets are hit by lower commodity prices and depreciating currencies fuel inflation, room to mitigate the downside risks is limited. In Europe and Japan, elevated government debt continues to constrain fiscal policy while the efficiency of multiple rounds of quantitative easing is already being tested,” she said. ...

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