Official Record
Aruba central bank keeping an eye on government deficit
Caribbean central bank says borrowing from the domestic market could put pressure on international reserves; says it will be monitoring the situation “closely”
Norges Bank sees room for improvement when forecasting wages
Evaluation of forecast performance shows both the central bank and other forecasters struggled to produce accurate estimates of wage growth and unemployment
OECD urges RBNZ to adopt debt-to-income restrictions
The OECD said adding a debt-to-income limit to the RBNZ’s macro-prudential instruments could increase the resilience of bank balance sheets
National Bank of Denmark warns banks on stress test results
Some systemic banks came close to breaching threshold requirements in latest round of stress tests, central bank says
Chile’s economy on sound and stable footing – report
Following earlier action in the year, central bank is unlikely to move interest rates again; growth forecasts revised following copper mine strike
Growth in offshore funding is creating risks – RBNZ
Financial stability report notes growing reliance of banks on offshore funding sources could become a problem; housing market risks require new prudential tools
Flexible exchange rate aids those hit by commodity shock, IMF report says
“Sacrifice ratio” is lower for those that allow local currency to depreciate; fixed exchange rates are becoming more expensive, IMF says
Israeli survey highlights benefits from ‘digital revolution’
“Tremendous changes” in the banking system are likely to benefit households and small businesses, the central bank says, while stability is also improving
Household debt is ‘serious threat’ to Swedish economy - Riksbank
Banking system is also vulnerable, central bank says
Fed minutes shed light on balance sheet shrinkage plan
System of caps would allow gradual reductions in the reinvestment of securities held under the QE programme
Denmark hails success of new primary dealer model
National Bank says new approach has boosted bond market liquidity across a range of metrics
Colombia’s Echavarría says monetary policy has been a challenge
Monetary policy has had to adapt to external headwinds that have caused macroeconomic imbalances for Colombia, central bank governor says; effects are now showing signs of abating
Norges Bank reserves swell, thanks to equity returns
Fixed-income portfolio returns were essentially zero in Q1, but the central bank is able to achieve returns on equity holdings
UK report sets out steps to unify payment services operators
Move would help drive “innovation and competition”, working group chairman says
Turkish central bank raises inflation forecast
Report suggests inflation will fall to 8.5% by the end of the year; monetary policy committee increased lending rate earlier this week citing ‘deterioration’ in outlook
Construction underway on Philadelphia Fed data centre
Federal Reserve Bank of Philadelphia publishes annual report; data centre approved in June 2016 will offer access to range of granular datasets
Sri Lanka must be more competitive, central bank argues
Annual report for 2016 proposes host of reforms for improving Sri Lanka’s global competitiveness, warning country missed “many” opportunities to become developed nation
Fresh exchange rate cap remains an option – CNB minutes
Minutes of extraordinary meeting say exchange rate commitment or other unconventional tools cannot be ruled out if deflation risks re-emerge
‘Urgent’ action needed to boost bank profits – BoJ report
Financial system report notes bank profit margins have been squeezed, but says sufficient capital is supporting lending for the time being
Volatile housing market puts RBA under pressure
Variations in housing growth and prices ramp up risk to financial stability, RBA minutes show; regulator to consider further measures “if needed”
DLT not ‘mature enough’ for eurozone usage, ECB says
ECB’s annual report explores progress with distributed ledger technology, emphasising it is still in its infancy; DLT could eventually be used for Europe’s payment and securities settlement systems
Lebanese banking sector holding up, despite Syria crisis – central bank
The banking sector remains liquid and well capitalised despite a “strained” Lebanese economy, the central bank says; new compliance unit formed
Kashkari rejects Dimon’s claims on too big to fail
Minneapolis Fed chief rebuts assertion by JP Morgan CEO that US banks are no longer too big to fail; says capital is too low, not too high
FOMC mulls ‘predictable’ balance sheet wind-down
One FOMC member says a “minimum pace” should be set for the reduction in mortgage-backed securities; committee will inform the public about its future plans for the balance sheet when the time comes