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*MSCI Asia Pacific ex- Japan steady, Japan's Nikkei slips. U.S. equities sagged on Thursday after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin easing back on the monetary gas pedal this summer and end bond buying late this year.
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BEIJING, May 17- Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices.
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SAN JOSE, Calif., May 16- One of the most urgent questions in economics today is the connection between inequality and growth. That is because one of the big economic facts of our time is the surge in income disparity, particularly between those at the very top and everyone else.
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*Central bank's IBC-Br index rises 1.05 pct over Q4. SAO PAULO, May 16- Economic activity in Brazil accelerated in the first quarter, central bank data showed on Thursday, adding to signs that a gradual recovery has gained steam after massive stimulus by President Dilma Rousseff's government.
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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Russia is set for 10 years of anemic growth, according to economists, who said the slowdown is predominantly due to low investment and structural factors.
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*Japan's Q1 growth beats forecasts. SYDNEY, May 16- Some stock markets across Asia edged up on Thursday after solid growth data from Japan improved sentiment although Tokyo's Nikkei lagged, while worries about a prolonged recession in the euro zone kept the common currency under pressure.
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*Sees lower deficits and moderate growth next two years. WELLINGTON, May 16- New Zealand's government charted a more optimistic economic outlook on Thursday as it raised its forecast for budget surpluses on the back of moderate growth, and said it would start spending more on new policies.
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*Gold down for fifth straight session, longest since Jan 2011. *Gold buying in India muted after new restrictions. NEW YORK/ LONDON, May 15- Gold slid below $1,400 an ounce on Wednesday, losing two percent and hitting its lowest in nearly a month as a record rally in U.S. equities and economic optimism undermined bullion's safe-haven appeal.
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NEW YORK, May 15- Brent crude oil prices reversed course on Wednesday and rose on the back of a rally in U.S. equity markets despite an increase in U.S. refined products inventories and data showing the euro zone was in its longest recession ever.
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LONDON, May 15- Oil slipped towards $102 a barrel on Wednesday after data showed the euro zone's recession extended to the longest on record, while a stronger U.S. dollar and ample supplies put additional pressure on on the price. Brent crude slipped 42 cents to $102.18 a barrel by 1200 GMT.
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*Germany returns to anaemic growth; France shrinks. BRUSSELS/ BERLIN, May 15- Germany's economy crept back into growth at the start of the year but not by enough to stop the euro zone from contracting for a sixth straight quarter, and France slid into recession.
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LONDON, May 15- Oil slipped towards $102 a barrel on Wednesday after data showed the euro zone's recession extended to the longest on record, with a rising supply outlook also weighing on prices. Brent crude slipped 16 cents to $102.44 a barrel by 1005 GMT. Germany, the region's largest economy, narrowly dodged falling into recession thanks to a rise in consumption.
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*Gold buying in India muted after new restrictions. LONDON, May 15- Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone data. Spot gold fell 0.8 percent to $1,414.56 an ounce at 1000 GMT, having touched its lowest since April 23 at $1,408.19 earlier.
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LONDON, May 15- The euro hit a six-week low against the dollar on Wednesday after data showing the euro zone economy contracted more than expected in the first quarter of the year, strengthening the case for another interest rate cut.
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MOSCOW, May 15- Russia's government has no room to raise spending, Finance Minister Anton Siluanov said on Wednesday, stoking a debate over whether fiscal stimulus should be deployed to revive flagging economic growth.
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BERLIN/ PARIS, May 15- Germany's economy crept back into growth in the first quarter of the year, after a sharp contraction at the end of 2012, while France slipped into recession, data showed on Wednesday.
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BEIJING, May 15- China has limited room to use government spending and policy stimulus to boost its economy, China Premier Li Keqiang was quoted as saying on Wednesday, dashing hopes among some investors that Beijing may take steps to foster growth.
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SINGAPORE, May 15- London copper inched up on Tuesday as investor appetite for risk picked up ahead of economic data expected to underline a U.S. recovery, but a dimming growth outlook in top metals consumer China will cap gains. *London copper logged its steepest fall in two weeks to hit $7,214 a tonne on Monday and is down more than 8 percent for the year.
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NEW YORK, May 14- U.S. economic growth will not be "much greater" than 2 percent over the next three to five years, while global inflation will likely pick up, Pimco, the giant bond firm, said on Tuesday in its investment outlook report.