Official Record
Senior central bank officials defend globalisation
Dombret and Mminele argue against the idea that globalisation is causing high unemployment and low growth, while stressing the negative impacts of protectionist trade policies
Danes claim top spot for EU card payments
Danish people use cards more than any other European Union nation, central bank report says, with electronic payments widespread
Fed income drops in 2016
Central bank remits less to US Treasury as interest income declines and operating costs rise; passage of "Fast Act" changes remittance process
SNB annual report sheds light on equity investing strategy
Central bank details approach to investing around 20% of its foreign exchange reserves in equities, including diversification, activism and avoidance of political considerations
London financial sector likely to ‘lose prominence’ following Brexit, says Sarb bulletin
South Africa to watch developments in London closely following Brexit vote, as domestic banks decrease exposures to the UK
BoJ minutes highlight hopeful signs for Japanese economy
Members highlight “more solid” recovery supported by a pick-up in exports and production, although inflation is still sluggish
Kashkari explains his sole FOMC dissent
Minneapolis chief reminds his colleagues the Fed treats 2% inflation as a target, not a ceiling; urges FOMC to publish plan for shrinking balance sheet
Daily open market operations paying off – National Bank of Denmark
Introduction of daily open market operations has smoothed liquidity management, stabilising the money market reference rate
Danish GDP revision helps solve productivity puzzle – bank
Figures better capture details of the current account, leading to substantial revisions in GDP and productivity growth, the Danish central bank finds
Danish central bank advocates specific cyber security testing
Survey shows only 50% of financial institutions specifically test their crisis response plans against cyber attacks; cyber security needs to be backed by senior management
Norges Bank increases staffing in 2016
Annual report shows 8% increase in staff levels, as well as changes to the governance structure; central bank makes a slight loss due to exchange rate movements
Pace of Brazil's monetary easing could increase, minutes show
Copom says evolution of economic performance and the level of the structural interest rate will dictate pace of easing cycle; fiscal policy could reduce structural interest rate
Fed could raise rates ‘fairly soon’ – minutes
Minutes show committee members will be watching labour and inflation data very closely; raising rates would offer “flexibility” in responding to economic changes
Uncertainty about momentum in the labour market – RBA minutes
“Mixed” picture in Australian labour market shows unemployment increasing alongside full-time employment; spare capacity likely to persist “for some time”
IMF praises BCEAO’s latest policy actions
Latest round of measures will result in stronger banking sector, mission chief says; rejuvenation of interbank market will help monetary policy effectiveness
Riksbank sees need for expansionary policy, despite rising inflation
Inflation in Sweden is now close to target, and expected to overshoot, but the central bank is holding policy steady with an eye on political uncertainty
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