11  C. M. Reinhart and K. Rogoff, “Growth in a Time of Debt,” American Economic Review 100, No. 2 (May 2010): 573–578. 12  A. Damodaran, “Into the Abyss: What if nothing is risk free?” (2010). Available at: <http://pages.stern.nyu.edu/~adamodar/>. 13  F. Black, “Capital market equilibrium with restricted borrowing,” Journal of Business 45, no. 3 (1972): 444–455.
BIS central bankers’ speeches  5  Data received since the April decision have generally supported the Bank’s near-term outlook. Recent inflation and employment have been modestly stronger; auto sales and retail purchases have been a touch weaker. Indicators have been consistent with continued, strong business investment.