Swiss sovereign money vote points up bank reform

A clear majority voted against a sovereign money initiative in a referendum, but pressure for bank reform persists

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Overheating is among risks for Central-Eastern Europe

Growth outlook in Central-Eastern Europe may be clouded by domestic and external headwinds

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Economic activity is growing solidly despite tighter monetary policy and turbulent foreign policy, especially trade

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The government looks set to face a rocky second half despite official optimism over the impact of a new IMF package

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Substantial diversification measures are likely to lag regionally

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President Rodrigo Duterte’s second major tax reform bill is behind schedule

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The next parliamentary poll is due in 2020, but the governing coalition is unstable

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The Bank of Japan has dropped its target date for achieving 2% inflation

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Policy and trade trends, and geopolitical risks are diverging across the world

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The economy is benefiting from strong global momentum and earlier franc weakness

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