Despite indications of persisting
pressures on employment costs associated with tight labor markets, price inflation has abated further, primarily as a consequence of large declines in energy prices.
symptoms of Lyme disease-possible explanations and implications for treatment [editorial].
They cited indications of persisting
inflationary expectations such as the recent weakness of the bond markets and survey results that pointed to expectations of some rise in inflation from current levels.
The persisting slack in resource utilization was expected to be associated with a return to more subdued price increases after a spurt earlier this year.
Members also commented on the uncertainties in the outlook for foreign trade associated with a variety of political risks abroad and the persisting protectionism that currently was highlighted by strong opposition to key trade agreements now under negotiation or under consideration for ratification.
On the other hand, some members noted the persisting
increases in M2 velocity.
A persisting though decreasing margin of slack in resource utilization was expected to be associated with further slowing in wage and price inflation.
Most believed that additional progress toward price stability was likely over the next several quarters in the context of some persisting slack in labor and other production resources and after an extended period of slow growth in key measures of money.
With BPD's capitalization levels persisting
at these levels, Fitch believes the 'C/D' individual rating appropriately reflects the bank's financial standing, considering the more formidable challenges BPD and the banking industry are facing.
On the other hand, stronger orders for nondefense capital goods portended some pickup in business fixed investment despite the continuing drag exerted by the persisting, though abating, weakness in nonresidential construction; in addition, inventory liquidation was likely to slow from the firstquarter pace.
However, members continued to view further progress as likely, given the persisting though diminishing slack that was projected in labor and other production resources.
In the context of persisting concerns about inflation, an casing in reserve conditions and lower short-term interest rates might well fail at this time to induce lower interest rates in long-term debt markets, though circumstances might change.
The downgrade reflects Slovakia's persisting
inconsistent macroeconomic policy mix of fiscal expansionism, a pegged exchange rate, and a tight monetary policy, which has led to a sharp increase in general government and current account deficits, of 4.
With vacancy rates persisting at historically high levels, starts in the multifamily sector remained depressed.
Further declines were recorded in the construction of office buildings and hotels in January, and persisting weakness in commercial construction was signaled by continued decreases in appraised values of office properties in late 1991.