Official Record
Kazakh banks should go beyond Basel III, says central bank
Financial stability report calls for banks to boost capital levels above Basel III requirements; encourages largest banks to clean up balance sheets and lend more
BIS says fundamentals lagging behind market sentiment
Quarterly review identifies ‘renewed sense of optimism’ in financial markets; also sees move away from safe havens to riskier assets as central bank easing continues
IMF report issues call to action on worsening Palestinian economy
Palestinian, Israeli and international authorities must move fast to tackle liquidity crisis, unsustainable public finances and political uncertainty in the West Bank and Gaza, staff report warns
Bundesbank turns €664 million profit in 2012
Deutsche Bundesbank profit increases by €21 million from 2011; Jens Weidmann says increase in the central bank’s risk provisions limited return
National Bank of Poland says rate cuts will bring inflation up to target
Polish inflation projected to fall to 1.3% in 2013 before rising to 2.6% in 2014, after benchmark rate slashed by 150 basis points in five months
Norway’s SWF sees large returns after ‘major strategic changes’
Annual report for 2012 reveals pension fund saw second-best performance since its creation; investments diversified away from Europe and into emerging markets
Fed’s Beige Book optimistic on labour market
Economic expansion still ‘modest or moderate’ in most Federal Reserve districts; labour market conditions improving but hiring is restrained
Bank of Mongolia launches ‘interest rate corridor’
New monetary policy framework seeks to reduce volatility in short-term interest rates, improve transmission and make policy more transparent
BoJ survey shows households expect tough times to continue
Households see economic conditions as worse than a quarter ago and likely to stay the same, although the majority thinks prices will rise in the coming years
EBA discussion papers outline thinking on LCR and CRR definitions
Consultation opens on definition of highly liquid assets and retail deposits for the purposes of liquidity reporting under the Capital Requirements Regulation
IMF staff present mixed economic outlook following G-20 meeting
Report sounds note of cautious optimism as financial markets recover, but downside risks remain around the implementation of important policies in the US, Japan and Europe
Saudi Arabian Monetary Agency welcomes diversification away from oil
Annual report reveals boost to growth and falling inflation in 2011; welcomes government intent to expand non-oil sector
RBA minutes warn growth may wobble in 2013
Minutes suggest economy is struggling to rebalance away from mining as peak in resource investment approaches, but low inflation gives room for further rate cuts
Bank of Israel likely to hold rates throughout 2013
Staff at Israeli central bank forecast steady growth and inflation over next year; say benchmark interest rate would remain unchanged
FSB endorses South African reform efforts
First peer review under new guidelines praises South African plans for ‘twin peaks’ regulators and tighter OTC derivatives rules; implementation still presents obstacles
Bank of Mauritius chief bemoans ‘glaring absence’ of bank resolution mechanism
Rundheersing Bheenick says lack of efficient resolution mechanism is harming Mauritius’s position as a global financial centre
National Bank of Denmark expects recovery
Central bank says domestic demand and GDP growth will improve in 2013; existing unemployment should not have lasting impact
Chilean board members wary of low inflation
Chilean wage growth is outstripping inflation; board members show concern but hold rates
Pakistan says Nato pull-back worsened rupee depreciation
State Bank of Pakistan annual report finds closure of Nato supply lines to Afghanistan contributed to a 9.1% depreciation of the rupee against the dollar in fiscal 2011–12
Malawi at risk in wake of currency devaluation
Financial stability report reveals inflation doubled after Malawian government floated exchange rate and devalued currency by 50%
Central Bank of Ireland drops growth forecast for 2013
Irish central bank lowers growth expectations in 2013 in response to weaker global demand; targets increased productivity in domestic economy
Bank of Russia warns some banks must enhance capital adequacy
Financial stability review says financial conditions remain ‘quite favourable’, but raises concerns over a downward trend in capital adequacy
Polish monetary policy council divided on size of rate cut
National Bank of Poland lowers interest rate for third successive meeting; some council members push for even deeper cuts
IMF predicts chequered growth performances in 2013
Updated World Economic Outlook forecasts wide disparities between countries’ growth performances in the next year; overall estimates revised down since October