Bank of Japan Governor Haruhiko Kuroda said the central bank’s monetary easing in April was a necessary move to end more than a decade of deflation and the economy will probably start gaining momentum later this year.
Chancellor of the Exchequer George Osborne intends to unveil the second phase of a plan to increase loans for small companies and consumers because the U.K. economy remains weak, said a person with knowledge of the plan.
Chancellor of the Exchequer George Osborne rejected a plea from the International Monetary Fund to ease the pace of deficit reduction, saying he has already put in place policies to support the British economy.
International Monetary Fund Chief Economist Olivier Blanchard said today that there was a need for a “dramatic change” in Japan’s monetary policy to generate positive inflation and that the monetary policy followed by the Bank of Japan is “appropriate.”
The International Monetary Fund trimmed its global growth forecast and urged European policy makers to use “aggressive” monetary policy as a second year of contraction leaves the euro area’s recovery lagging behind the rest of the world.
Asian stocks advanced for the first time in three days as new-home construction in the U.S. jumped more than forecast, the International Monetary Fund raised its forecast for Japanese growth and the yen weakened
Spain beat its maximum target at a bond auction and 10-year borrowing costs fell to the lowest since September 2010 even as the government seeks a higher 2013 budget deficit limit amid a sixth year of economic slump.