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DECPG Weekly Global Economic Brief (Inglês)

Some of the headings included in this issue of the Development Economics Prospects Group (DECPG) weekly global economic newsletter are as follows: Greece re-opened banks and made some payments to international creditors, while its Parliament approved a second round of reforms; Eurozone purchasing managers’ index (PMI) fell more than expected in July; U.S. existing home sales jumped to highest level in over eight years, while initial jobless claims fell to a 42-year low; China flash manufacturing PMI fell noticeably in July; commodity prices expected to remain weak in 2015 despite a slight rebound in oil price; Some of the effects of negative rates are qualitatively analogous to those of very low but non-negative rates; that said, negative nominal interest rates may have undesirable side effects on financial stability, such as the erosion of bank profitability; negative rates may also exert pressures on non-bank financial institutions; negative rates may encourage excessive risk-taking; and negative rates might potentially necessitate a redesign of the functioning of financial transactions.

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