Japan: Shinzo Abe Launches ‘Third Arrow’ of Japanese Economic Reform
Prime Minister Shinzo Abe launched the so-called third arrow of economic reform on 24 June. These measures include dozens of proposed changes to labor regulations, government pension fund investments, corporate governance and tax policies. (Source: The Guardian)
Germany: ECB Moves Boost German Consumer Confidence
Consumer confidence rose again in July, buoyed by the European Central Bank’s recent decision to cut interest rates, which has hit Germans’ propensity to save and increase their willingness to spend more money.
Mexico: Mexico’s Economic Activity Increase Slightly in April
Mexico’s Global Economic Activity Index, or IGAE, rose 0.50 percent in April, compared to the same month last year, reflecting an improvement in agriculture and services. The IGAE is a preliminary short-term indicator of economic trends in the country since it does not include all the economic sectors used in calculating the gross domestic product (GDP).
Russia: Putin Removes Threat of Military Intervention after Ukraine Ceasefire
Vladimir Putin formally took Russian military intervention in eastern Ukraine off the table as separatist leaders agreed to a ceasefire, proposed by Kiev, in the region. (Source: The Guardian)
Cyprus: Cyprus Central Bank Sees Shallower 2014 GDP Drop than 4.2%
Cyprus’s Central Bank governor on Wednesday said this year’s recession on the bailed-out island could be shallower than the 4.2% decline anticipated by its international lenders. (Source: Reuters)