The global imbalances The safe haven appeal of the US dollar as the key international currency, and the assured high return on financial investment in the capital market in the US during the Greenspan era led to a situation where the US continuously maintained large and growing unsustainable current account deficits.
Growth in 2013 is expected to equal that of potential output, at 2.1 per cent. The Bank expects that the economy will return to capacity in the middle of 2012, two quarters earlier than had been projected in January.