Official Record
Shift in FOMC language intended to show December hike ‘may well become appropriate’
Minutes from October meeting reveal thinking behind change in language; a ‘couple’ of members raised concerns the change could be misinterpreted as a stronger signal than it was
Short-term funding developments put Norwegian banks at risk, report finds
Parts of the Norwegian economy remain a source of vulnerability for banks, says deputy governor Nicolaisen at launch of latest financial stability report
Improved inflation outlook gives Icelandic central bank room for manoeuvre
Shallower path for near-term inflation allows central bank to make smaller rate hike than planned, but the longer-term picture still shows inflation overshooting the target
State Bank of Pakistan overhauling risk management, annual review says
Central bank is looking to improve its risk management approach, with work proceeding on an enterprise risk management system
Swaziland currency drops under Fed decision pressures
Delayed Fed rate rise put pressure on Swaziland lilangeni, central bank says, and more moves are likely
Sarb ready to deploy countercyclical buffer from January
South African Reserve Bank says countercyclical capital buffer is ready but not yet needed, in latest financial stability report
BIS statistics show sharp contraction in Q2
Cross-border claims fall significantly in advanced economies, led by euro-denominated transactions; credit to emerging markets is up quarter-on-quarter, but down year-on-year
RBI advisers supported rate cut, minutes show
Minutes of technical advisory committee meeting show six of seven members recommended a cut as inflation in India had fallen ‘dramatically’ and growth proved elusive
FOMC minutes spell out inflation concerns
Several members were concerned disinflationary pressure from low oil prices and a strong dollar could persist longer than anticipated and ‘delay or diminish’ the expected rise in inflation
South Africa aims to launch electronic trading platform this year
A deputy governor of the South African Reserve Bank announces electronic trading platform could be launched in the coming months
Philippines reserves up by $100m in second quarter
Drop in net foreign lending prompts balance of payments surplus to surge by 145% year-on-year; FDI increases by $424 million, slightly lower than Q2 2014
RBA board holds off judging impact of volatility on trading partners
The board assessed the troubles in China and market volatility to have ‘increased the downside risks’ to the global outlook at its meeting this month, minutes show
Gaza blockade adds to leap in Palestinian inflation
Low oil prices are not fully offsetting a fuel crisis in the Gaza Strip as a continued blockade causes rapid price rises in certain goods, a Palestine Monetary Authority inflation report finds
PBoC reveals $93.9 billion drop in reserves
People’s Bank of China reveals size of drop last month, driven by intervention in foreign exchange markets after devaluing yuan; reserves sat at $3.56 trillion at end of August
Israel committee see risks to inflation outlook rising
Policy-makers at Bank of Israel discussed decline in short-term inflation expectations, a potential drop in growth and the strength of the shekel in August meeting
RBI designates two banks ‘systemically important’
Reserve Bank of India lists State Bank of India and ICICI Bank as ‘domestic systemically important banks’ and details additional capital requirements
East African governors say structural measures needed to stabilise currencies
Senior central bank officials from Burundi, Kenya, Rwanda, Tanzania and Uganda identify measures necessary to ensure long-term stability of their currencies
FOMC inching towards rate hike, minutes hint
Minutes of July meeting show some members are still concerned that labour market and inflation data are not strong enough for a hike, but several think the economy is nearly ready
RBA report reveals changing pattern of card use
Australians are increasingly favouring debit over credit cards for payments but both have been increasing in volume and value
Mexican board split on July rate decision
Minutes from the July 30 board meeting show three board members voted to hold the key rate at 3%, with one member favouring a 25bp hike and another absent
Bangladesh Bank will oversee creation of $500 million fund
World Bank and Bangladesh Bank putting up the money to finance longer-term projects in the economy, with some cash ring-fenced for ‘greening initiatives’
Stevens says RBA is working to ‘assess and contain’ housing risks
Statement following decision to hold rates notes house prices rising ‘strongly’ in Sydney, although growth is uneven between regions; other assets also buoyed by low rate environment
Israel grapples with high house prices and low inflation
Monetary policy report flags concerns by committee members that low interest rates may be fuelling high and rising house prices, but overall the risks to inflation are seen as more severe
Moroccan governor calls for ‘shock therapy’ in education
Abdellatif Jouahri warns there is a ‘worrisome’ gap between ambitions and tangible achievements in the field of education and training, in central bank’s annual report for 2014