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World Economy International Organizations

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  • IMF: IT WILL TAKE LONGER THAN BOJ EXPECTS FOR JAPAN TO HIT 2 PCT INFLATION EVEN WITH FURTHER EASING.

  • IMF: ANY MORE BOJ EASING WITHOUT BOLDER REFORMS COULD LEAD TO OVERRELIANCE ON YEN DEPRECIATION.

  • IMF: YEN'S VALUE ON REAL BASIS HAS STAYED BROADLY STABLE AFTER "SOMEWHAT WEAKER LEVEL" IN 2 ND HALF OF 2014.

  • TOKYO, May 22- The International Monetary Fund warned the Bank of Japan will take longer than it expects to hit its inflation target even with more monetary easing, and said "bolder" structural reforms are required to shake off an entrenched deflationary mindset. In a statement after "Article 4" consultations with Japanese policymakers released on Friday, the IMF...

  • WASHINGTON, May 22- The current slowdown in South Korea's economy could devolve into a protracted bout of deflation, the International Monetary Fund warned on Friday, urging the country's central bank to cut rates. The IMF also said the Korean won remains undervalued, and should be allowed to rise over time. Korean rates are already at a historic low of 1.75...

  • IMF SAYS KOREAN CURRENCY REMAINS UNDERVALUED, SHOULD BE ALLOWED TO RISE OVER TIME.

  • IMF CALLS ON KOREAN CENTRAL BANK TO CUT RATES IN EFFORT TO ENCOURAGE HOUSEHOLDS, BUSINESSES TO SPEND AND REVERSE "CASH HOARDING".

  • IMF SAYS KOREA FACES RISK OF PROTRACTED DEFLATION IF STALLED GROWTH AND WEAK PRICING CONTINUE TO CURB CONSUMER SPENDING AND BUSINESS INVESTMENT.

  • *Meets handful of leaders on sidelines of summit in Riga. RIGA, May 22- British Prime Minister David Cameron said on Friday he was confident of winning concessions from European Union leaders before he asks voters whether Britain should stay in the bloc. After his Conservative Party won an unexpected majority in a May 7 election, Cameron is committed to...

  • Saudi Arabia rewrites its oil game with refining might Friday, 22 May 2015 | 10:25 AM ET

    *Refining and trading could shift Kingdom's OPEC calculus. LONDON, May 22- Saudi Arabia's rapid transition into one of the world's largest oil refiners adds an extra dimension to the oil exporter's role as the driver of OPEC policy. When it attends OPEC's next meeting in two weeks, it does so with major new state-of-the-art oil refineries that can profit from...

  • LONDON, May 22- A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership. Deutsche Bank, the euro zone's second largest bank by assets, confirmed this week it was considering cutting its UK operations if the country pulled out, and other...

  • *Gaza's economic output contracted 15 percent in 2014. JERUSALEM, May 22- Gaza's economy is in a worse state than any other in the world, with unemployment at a global high, output contracting sharply and the long-term prospects worrying, the World Bank said on Friday. "Blockades, war and poor governance have strangled Gaza's economy and the unemployment rate is now...

  • RIGA, May 22- British Prime Minister David Cameron on Friday began his campaign to persuade European leaders to make changes to the European Union before he holds a referendum to decide whether Britain should stay in or quit the bloc. Cameron was due to hold talks with European Council President Donald Tusk and a handful of EU government heads on the sidelines of...

  • MEXICO CITY, May 21- Mexico said on Thursday it would decide within about 15 days what sanctions to impose on U.S. meat products if the U.S. Congress does not comply with a World Trade Organization ruling on labeling. On Monday, the WTO ruled that U.S. country-of-origin labeling laws discriminated against imported meat from Mexico and Canada.

  • RIGA, May 22- Newly re-elected British Prime Minister David Cameron will have his first talks with other European Union leaders on Friday on reforms he is seeking to the EU before holding a referendum by 2017 on Britain's membership of the bloc. Cameron will use a summit in the Latvian capital between the EU and six former Soviet republics as an opportunity to...

  • Fed's Fischer says euro zone survival virtually assured Thursday, 21 May 2015 | 2:00 PM ET

    Federal Reserve Vice Chair Stanley Fischer on Thursday said the euro zone crisis had made the monetary union stronger and proved that the European Central Bank has the ability to carry out effective policy in the region. Even though the crisis is not over, with Greece in particular still struggling and facing a possible debt default, the ECB's actions have "...

  • MOSCOW, May 21- The International Monetary Fund sees the Russian economy shrinking by 3.4 percent in 2015, a smaller contraction than previously forecast, but said the country's public finances faced big longer-term challenges because of low oil prices. Russia's economy was tipped into crisis last summer when an existing slowdown was compounded by a sharp...

  • GENEVA, May 21- Japan launched a trade complaint at the World Trade Organization on Thursday to challenge South Korea's import bans and additional testing requirements for Japanese food after the 2011 Fukushima nuclear disaster, the WTO said. Japan says several measures taken by South Korea violate the WTO's sanitary and phyto-sanitary agreement and Seoul...

  • *Britain says has no power to enforce the rules. LONDON, May 21- Banks should provide customers with the means to create one-off passwords from August to make buying over the Internet safer, European Union banking regulators said on Thursday. The European Banking Authority announced details of its plans over the coming years to make e-commerce safer, breaking...

  • LONDON, May 20- The European Union risks pricing itself out of the global economy by excessive regulation, British finance minister George Osborne said on Wednesday, making the case for reforms in the bloc ahead of a referendum on whether Britain remains a member. Osborne was addressing business leaders in London in one of his first major speeches after an...