Official Record
Philippines central bank expects to hit inflation target
Latest forecasts suggest inflation will return to the lower half of the target range this year, while the risks to the outlook are ‘broadly balanced’
BoE MPC moving towards rate hike, minutes hint
MPC voted unanimously for a rate hold, but ‘a number of members’ believe risks to inflation are becoming ‘skewed to the upside’; appreciation of sterling and global shocks could still delay hike
Fed beige book points to areas of optimism
Most districts report economic activity as expanding at a ‘modest’ or ‘moderate’ pace, while many contacts indicate ‘optimism’ about future growth
Riksbank minutes reveal concerns over negative rates
Deputy governor voted against rate cut amid fears of unintended consequences, and others admitted the cut would send the Swedish economy deeper into uncharted territory
Kuwaiti banks perform well under stress, report shows
Banks in Kuwait showed resilience during stress tests and strengthened their balance sheets in 2014, financial stability report shows; conventional banks more cost-efficient than Islamic
ECB survey shows further recovery in bank credit in Q2
European Central Bank publishes latest bank lending survey, which reveals an increase in the share of banks reporting greater demand for loans to enterprises in the eurozone
Armenian annual report highlights growing European ties
Central Bank of Armenia strikes loan agreement worth €50 million with European Investment Bank and will use the money to fund SME projects
BoE FPC wary of buy-to-let risks
Financial policy committee asks bank staff to identify channels through which the market threatens stability; UK government caps tax relief on buy-to-let property
Sama publishes first financial stability report
Report indicates Saudi financial system is coping well, despite the 2014 oil price shock and continued geopolitical instability in the region; past year saw ‘significant’ regulatory change
Czech board expects strong growth showing
Board members at the Czech National Bank caught off guard by strong growth in first quarter, minutes show, but expect stronger-than-forecasted growth for rest of year
Solomon Islands increases flexibility of currency
Annual report reveals Central Bank of Solomon Islands scrapped its policy of restricting the movement of its currency against the US dollar on any given day, but retained peg against basket
Minutes show ECB happy to ‘look through’ volatility
Governing council carefully considered market volatility including the increase in government bond yields in June meeting, concluding it had not ‘materially altered’ economic outlook
Bank of Korea annual report sheds light on organisational shake-up
Central bank expanded research functions, improved communications, and established a ‘task force’ to examine the effectiveness of internal management in 2014
Danish central bank urges government to 'rein in' economy
National Bank of Denmark recommends countercyclical fiscal policy, including reformed housing taxes, as private sector growth has become strong enough to create risks
National Bank of Denmark warns fierce competition may damage lending standards
Financial stability report urges banks to build buffers and not cut corners despite the highly competitive, low interest rate environment
Bank of Thailand cuts forecasts for growth and inflation
Monetary policy report says risks are ‘skewed to the downside’ as central bank lowers its forecasts; MPC was divided over further easing at April meeting
BoE report details ‘innovative’ liquidity insurance tool
Indexed long-term repos were introduced as part of liquidity facility upgrades after the global financial crisis, and are designed to automatically adjust to stress
Eurozone recovery set to broaden, says ECB bulletin
Report presents growing body of good news for most eurozone economies as wages and consumption rise, inflation bottoms out and investment begins to return
Irish banks have returned to profitability but still need repairs, report finds
Central Bank of Ireland’s macro-financial review notes improvements in the banking sector, but high levels of non-performing loans are holding them back
BoE staff costs rose 6% in 2015, annual report shows
Growing number of senior staff added to central bank’s wage bill for the year; Mark Carney turned down pay rises but still received package worth nearly $1.4 million
RBA minutes note mixed signals for policy
Slight slowdown globally and nervousness over Greece and US rates offset by ‘solid’ lending growth, stronger employment and improved sentiment
Canadian central bank lays out three ‘key’ vulnerabilities in financial system
Bank of Canada warns vulnerability associated with household indebtedness is ‘edging higher’ and points to imbalances in the housing market and investor risk-taking in financial markets
Philadelphia Fed survey sees brighter outlook for economy
Survey of US forecasters shows outlook of higher growth and lower unemployment than previously thought by the end of 2015; inflation expected to return to target next year
Cash payments still declining, Norges Bank report finds
Norwegians are making more and smaller payments using cards while cash use continues its downward trend, payments report shows