BEIJING (MNI) - The growth of Chinese house prices slowed for a fourth month in August, rising 9.3% y/y, and were unchanged over the previous month, the National Bureau of Statistics reported Friday.

Investment in the real estate sector rose 36.7% y/y during the first eight months of the year versus 37.2% during January-July and the first half's 38.1% increase.

House prices were up 10.3% y/y in July, 11.4% in June and 12.4% in May.

TOKYO (MNI) - Many members of the Bank of Japan's policy making board voiced concern at their August 9-10 meeting over the impact of the strong yen on the outlook for Japan's economic and price developments, the minutes released by the BOJ on Friday show.

"Many members raised the possibility that the appreciation of the yen might depress growth in exports and corporate profits," the minutes said.

TOKYO (MNI) - Many members of the Bank of Japan's policy making board voiced concern at their August 9-10 meeting over the impact of the strong yen on the outlook for Japan's economic and price developments, the minutes released by the BOJ on Friday show.

"Many members raised the possibility that the appreciation of the yen might depress growth in exports and corporate profits," the minutes said.

TOKYO (MNI) - Bank of Japan Governor Masaaki Shirakawa on Friday said the Japanese banking system is "stable as a whole" and thus the failure of Incubator Bank of Japan, which was established in 2004 to support small businesses, does not pose a threat to the system.

In a release, Shirakawa said the BOJ "will continue to carefully monitor the developments of financial markets and financial system" and "will make utmost efforts to ensure the stability of Japan's financial system including temporary funding support to DICJ (Deposit Insurance Corporation of Japan)."

LONDON (MNI) - House prices in England and Wales posted their third consecutive monthly rise although annual house price inflation continued to slow, according to the latest LSL/Acadametrics report.

The set of August house price surveys have shown a mix of monthly rises and falls, suggesting no clear direction in the housing market at present. The LSL/Acadametrics House Price Index put the August move at up 0.2

All figures year-over-year percent changes unless otherwise specified.

By Yali N'Diaye

WASHINGTON (MNI) - The Federal Reserve has some bullets left if needed, but the central bank should only act in increments rather than "do some kind of shock" if it were to further ease its policy through quantitative steps, St Louis Fed President James Bullard said Thursday.

By Heather Scott

WASHINGTON (MNI) - Despite the signs of recovery in the world economy, growth rates are insufficient to fuel job creation and need further short term stimulus, International Monetary Fund chief economist Olivier Blanchard said Thursday.

Despite growing concern over growing deficits in advanced economies, Blanchard stressed that it does not mean there should be a "fiscal noose" imposed now.