Indian Prime Minister Manmohan Singh, a former Reserve Bank of India governor himself, approved an additional two year term for the current RBI governor Duvvuri Subbarao. more »

July saw another increase in inflation in China. CPI advanced 6.5% year-over-year, up from a 6.4% advance in June. Not a good omen, PPI increased by 7.5% over July 2010. Producer price increases have a tendency to bleed through into future CPI. The figures were reported by the NBS, the National Bureau of Statistics, which is no longer mentioning that their inflation target for CPI is 4%. Two months ago, with CPI inflation up 5.5% year-over-year in May (see GEI News), a 4% target seemed within reach. Apparently that’s not so any more. more »

In April the Asian Development Bank estimated economic growth for 2011 in Japan would be 1.5%. Today (July 29) the estimate has been changed to -0.5%. The change is attributed to the impact of the March 11, 2011 earthquake and tsunami which created massive losses of life, property and productive capacity. Apparently the extent of the damage was not fully recognized the month after the disaster. The outlook for 2012 is for GDP growth of 3.2%. more »

Econintersect: The following are the ten most popular News articles for the first half of 2011, with a total of 131,167 total page views. The News Blog has had half the total traffic of the entire GEI family. more »

Econintersect: Federal Reserve Chairman Fed Chairman is making his semi-annual pilgrimage to the US Congress explaining monetary policy.  As the Fed  has been very public recently, his explanation of the current state of the economy has been covered by E… more »