Finance counsels

Japan’s unemployment rate rose to a six-year high in June and consumer prices fell at a record pace, adding to evidence the domestic economy is struggling to recover even as exports start to improve.
The jobless rate advanced to 5.4 percent from 5.2 percent in May, the statistics bureau said today in Tokyo, higher […]

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Bank of Japan board member Tadao Noda said the central bank shouldn’t end its emergency credit programs prematurely because that could stymie a recovery.
“We need to avoid ending measures too early,” Noda said in a speech today in Matsumoto, central Japan. Still, “having extraordinary policies in place for too long may prevent the […]

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India’s central bank may start reversing its interest-rate cuts in early 2010 as food and energy prices fan inflation, after it kept borrowing costs unchanged yesterday to bolster economic growth.
“On the way forward, the Reserve Bank will have to reverse the expansionary measures to subdue inflationary pressures while preserving the growth momentum,” Governor […]

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John Taylor has a message for economists who say Ben S. Bernanke is ignoring a benchmark guide for interest rates: They’re wrong.
Taylor should know: He wrote the rule.
Economists from Goldman Sachs Group Inc., Macroeconomic Advisers LLC, Deutsche Bank Securities Inc. and even the San Francisco Federal Reserve Bank argue the Taylor Rule, […]

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Spain needs the rest of Europe to recover and pull the economy out of recession as officials try to retool an economy reeling from the worst recession since World War II, Deputy Finance Minister Jose Manuel Campa said.
“This is the crisis of my generation, this is going to identify us as a generation,” […]

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Bank of Japan Deputy Governor Hirohide Yamaguchi said the central bank will end its unprecedented credit programs in a way that is least disruptive to investors.
“The bank will, without any predetermined view, carefully assess developments in corporate financing and financial markets,” Yamaguchi said in a speech today in Hakodate, northern Japan. “It is […]

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Bank of Japan is likely to consider when to end its three unprecedented credit programs separately, minutes show.
“Since each measure was different in its purpose and framework and in its effects on financial markets and overall financial conditions, the future of the measures should not be examined collectively but individually,” members said in […]

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European Central Bank President Jean-Claude Trichet urged euro-area governments to trim their budget deficits after a flood of spending aimed at stemming the worst recession since World War II.
“There is too much spending, there is a need to reduce spending as a proportion of gross domestic product,” Trichet told French TV channel LCI […]

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Mexico’s central bank will probably slow the pace of cuts to the benchmark interest rate as above- target inflation restricts policy makers’ response to the economy’s deepest slump since 1995.
The bank’s board, led by Governor Guillermo Ortiz, will lower the overnight rate today for a seventh straight month to 4.5 percent from 4.75 […]

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The Japanese government and central bank should be ready to provide additional stimulus measures should global demand fail to improve enough to underpin a recovery, the International Monetary Fund said.
“There are downside risks, particularly if export demand continues to remain weak and unemployment starts to weaken consumption further,” Jim Gordon, the IMF mission […]

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