26/05/2010 – Economic activity in OECD countries is picking up faster than expected but volatile sovereign debt markets and overheating in emerging-market economies are presenting increasing risks to the recovery, according to the OECD’s latest Economic Outlook.

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[Source: Federal Reserve of Cleveland]

Text of the speech:

“Forecasting in Uncertain Times

Introduction

My talk today is about forecasting in uncertain economic times. A very wise man named Yogi Berra once said “the future ain’t what it used to be.” Economic forecasters know exactly what he means. As a member of the FOMC, the Federal Reserve’s policy-making…

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Source: European Central Bank

ECB decides on measures to address severe tensions in financial markets

ECB decides on measures to address severe tensions in financial markets The Governing Council of the European Central Bank (ECB) decided on several measures to address the severe tensions in certain market segments which are hampering the monetary policy transmission mechanism and thereby the effective conduct of monetary policy…

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Statement by Glenn Stevens, Governor:

Monetary Policy Decision At its meeting today, the Board decided to raise the cash rate by 25 basis points to 4.5 per cent, effective 5 May 2010.

Recently, forecasts for world GDP growth have been revised up again, and growth is expected to be at trend pace or a little above in 2010. Conditions in Europe remain quite weak…

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Source: European Central Bank

PRESS RELEASE 2 May 2010 – ECB assesses the Greek economic and financial adjustment programme The Governing Council of the European Central Bank (ECB) welcomes the economic and financial adjustment programme which was approved today by the Greek government following the successful conclusion of the negotiations with the European Commission, in liaison with the ECB, and the International Monetary Fund. The ambitious fiscal adjustment and…

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