| Brian Fallow: Bank searches for lighter hammer The Reserve Bank's No 1 strategic priority is to "investigate the potential for macro-prudential policy tools for New Zealand".Deputy Governor Grant Spencer says a number of smaller open economies are looking for, or already using,... nzherald.co.nz |
Spain is caught up in self-delusion (at Financial Times) A basic problem in the eurozone s periphery is that it is experiencing a commonplace emerging market-style crisis - yet its policymakers are oblivious to that fact. This recent observation, from an old hand in emerging markets at the International Monetary Fund, is perhaps nowhere truer than in Spain, where a virtual sudden stop in foreign bank lending has forced the country to become highly dependent on European Central Bank borrowing to stay afloat. us.rd.yahoo.com |
NZ dollar climbs against Aussie The New Zealand dollar leaped against the Australian dollar today on a combination of good news on this side of the Tasman and disappointing news on the other side.Higher prices in the latest Fonterra online milkpowder auction... nzherald.co.nz |
Euro extends gains, rises 1 pct vs dollar [at Reuters] - The euro extended gains against a broadly lower dollar on Wednesday after the U.S. Federal Reserve signalled it could conduct more monetary easing the previous day. us.rd.yahoo.com |
Challenges Await U.S. at Group of 20 Meeting With China leading the critics of American economic policy, officials acknowledge that President Obama is going to have a difficult time winning any kind of consensus strategy. nytimes.com |