Battle of the QE2s

- Japan’s intervention: a sterile debate
"The MOF’s FX intervention gives the BOJ another shot at QE, which it should take."
- United States: Time to act
"Growing downside risks warrant the next phase of QE."
- Europe: Shell-shocked but not shell-bound
"Euro-area consumers seem to have resumed spending but a boom is not imminent."
- Japan: Policymaking for a new cabinet
"The new Kan cabinet faces challenges on a range of economic issues."
- China: A soft landing underway
"We lower our growth forecast to 10.2% for 2010 but hold to our 9.8% forecast for 2011."
- EEMEA: Minimal impact from Basel III
"Most EEMEA banking sectors already meet Basel III standards but challenges remain."
- ASEAN: Fiscal exit by stealth
"Fiscal 2010 results will likely exceed budget and in some cases may be contractionary."
- Turkey: No ‘new normal’ yet for Turkish GDP 
"The recovery increasingly looks like previous ones. We revise our 2010 forecast."
- South Africa: Pravin Gordhan and Susan Shabangu event
"We hosted a meeting with South Africa's Ministers of Finance and Mineral Resources."
- Mexico: Policy rate cuts unlikely
"Expectations of an interest rate cut have risen but we expect no change until Q1 2012."

Nomura Global Weekly Economic Monitor 20100917

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