Official Record
New tax measures biggest threat to Jamaican inflation
Increases in income tax threshold will impact inflation, latest report warns; exchange rate depreciation and international oil prices are also a concern
Mongolia sees hope of recovery after rough year
The commodity reliant country faced slowing growth and inflation in 2016, but the outlook for this year is somewhat brighter
Only ‘gradual’ increases in interest rates on the cards at the Fed
FOMC members think only “gradual” adjustments to monetary policy are warranted; current pace will strengthen the labour market and see inflation rise
BoJ ups growth forecast after Trump shock
Improvements in overseas economies and yen weakness prompt central bank to revise up its growth forecast, though inflation is largely unchanged; policy remains on hold
Dominican Central Bank reports growth of 6.6%
Provisional data from the bank shows it is the fastest growing within the region for the fourth year in a row; agriculture sector fuelling rapid growth
Tight policy keeping a lid on inflation – Central Bank of Iceland
“Steep” pay increases and rising house prices keep the central bank on alert; report warns the situation could easily change
IMF: Indian demonetisation to have ‘limited impact’ on Nepal
Some households have been affected, the IMF says, but holdings of Indian rupees were “small”; the Central Bank of Nepal is offering an exchange facility to those wanting to exchange cash
Cross-border claims shifting in favour of non-banks
BIS international banking statistics show claims on banks fell in third quarter of 2016 but claims on non-banks continued to grow
RBNZ paper sheds light on core macro model
'NZSIM' is a semi-structural model, with a DSGE core augmented with a handful of additional equations
Central Bank of Brazil discussed smaller hike at December meeting
Copom weighed a 50bps cut, but chose to “frontload” monetary easing, given anchored expectations and promising outlook for inflation
Riksbank dissenters raise range of concerns
Three officials objected to the Riksbank’s decision to expand its asset purchases at the meeting on December 20, for a variety of reasons, minutes show
Dollarisation is making monetary policy ineffective, Cambodian central bank says
Central bank actively promoting the use of riel instead of US dollar; reduced riel transaction costs among measures implemented
Fed could raise rates faster than anticipated, minutes show
Prospect of undershooting the longer-run employment target has increased, the FOMC reports, but expansionary fiscal policies should improve growth prospects
Barbados has failed to find growth balance, says governor
Further restrictions on spending needed to protect country’s reserves, says Worrell
US card fraud higher than in countries with chip technology – Fed study
Study finds card transactions are on the rise but cheques still important; limited adoption of chip technology seems to be contributing to fraud
Palestine Monetary Authority forecasts slowdown amid ‘political impasse’
Authority sees likelihood of “slackening trend” of growth in coming years as Gaza Strip “siege” continues and restrictions affect the West Bank
Central Bank of Brazil sets out agenda for 2017
Improved governance and financial inclusion at the top of the list for the central bank; aims have been published on an innovative interactive webpage
Chile notes health of domestic economy has declined
Latest financial stability report highlights the lack of profitability in the banking sector; institutions’ ability to cope with adverse external scenarios has “diminished”
SNB’s Jordan stresses commitment to exchange rate intervention
Central bank holds the policy rate, but the Swiss franc is still “significantly overvalued”, and the SNB will continue to intervene, chairman says
Inflation to reach 2% target in next six months, BoE says
MPC votes unanimously to leave rates unchanged at 0.25%; exchange rate appreciation suggests smaller overshoot of inflation target than previously forecast
Updated Bank of Mauritius survey questions people on inflation causes
Latest survey shows Mauritian stakeholders are wary of external factors; exchange rate was viewed as second most important factor under new question format
Central Bank of Brazil says ‘intensification’ in pace of monetary easing might be warranted
Some members of the committee said there could be room for a larger rate cut, minutes show; slowdown in inflation and implementation of government fiscal policies prompted 25bp cut
MAS warns of risks surrounding households
Prudent financial and debt management is crucial, the regulator says, to entrench the gains made through macro-prudential measures implemented earlier
Peso depreciation is ‘necessary’ – Bank of Mexico report
Mexico’s relationship with the US has made it sensitive to economic policy decisions by its major trade partner; latest report explains the central bank will prevent exchange rate “contagion”