Official Record
‘Challenging' year spurs diversification of Hong Kong's exchange fund
HKMA says it is accelerating its process of reserves diversification after it was hit by a "triple whammy" in all major asset classes in 2015
National Bank of Romania flags ‘severe systemic risk’ posed by legislative framework
Central bank publishes first of two financial stability reports due this year, after change in policy; stresses concerns over range of legislative initiatives, including "debt discharge" law
Conditions for lifting capital controls ‘could hardly be better' – Guðmundsson
Central Bank of Iceland governor says it is important to press ahead with liberalisation while the economy is strong and financial system stable, in latest financial stability report
Prudential measures may create risks for developers – RBA
Tighter regulations designed to tackle housing risks may cause problems for large building projects started before the tougher rules came in
Bank of England to react ‘more cautiously’ to data in light of EU referendum
Uncertainty over referendum to affect macroeconomic data over next few months; inflation rising but still well below BoE target
Some Fed officials concerned April hike would ‘signal a sense of urgency’
Minutes from March meeting reveal caution around prospect of a hike this month, given prevailing headwinds and risks; next meeting on April 26–27
SNB made investment ‘innovations’ in 2015, report says
Central bank made first investments in new assets and began to wield voting rights to influence corporate governance in 2015, annual report shows
Sweden’s Riksbank has mixed forecasting performance, report finds
Riksbank “relatively good” at projecting growth and unemployment, but less so when it comes to the policy rate; this is “notable” and not “particularly satisfactory”, report notes
BoE alert to second-round effects from low inflation, minutes show
BoE enters eighth year with rate at 0.5%; committee will continue to watch for second-round effects of inflation on wages
Zimbabwe central bank calls for flexibility on SME credit
Number of areas still at risk from financial exclusion; only 14% of MSME owners were banked, and only 1% of the adult population used capital market services in 2014
Inflation target and interest rates about right, UK survey suggest
Median expectations of inflation for 2016 were 1.8%; largest share of UK public says it is best for the economy if interest rates stay where they are
Central Bank of Brazil calls for structural reforms
Inflation figures come down, but still nowhere near target range; central bank calls on government to ensure fiscal consolidation in longer-term
UK payments regulator notes expansion of indirect access providers
Industry response to financial crime regulation has deterred indirect access providers from catering for smaller payment service providers, report says
Norges Bank organisational changes geared towards better investment
Revamp of organisational structure is mainly focused on improving the governance of the sovereign wealth fund, which delivered a return of 2.7% despite turbulence last year, annual report reveals
Slovakian central bank boosts provisions for financial risks
National Bank of Slovakia records gross profit of €144.6 million in 2015, as both income and operating costs fall
Report finds 11% of Rwandans remain financially excluded
Women and younger people more likely to be financially excluded; share of population excluded falls from 28% to 11%
External conditions move Bank of Mexico to lower growth forecasts
Central bank cuts growth forecasts for 2016/2017 by half a percentage point; global slowdown starting to have larger impact
Turkish MPC eyes volatility as it prepares move to standardised framework
Decline in volatility will be key factor in move to a narrower interest rate corridor, minutes say; central bank expects disinflation in February after headline figure hit 9.6% in January
Riksbank minutes reveal knife-edge decision to cut
Cecilia Skingsley says decision was hardest since her appointment to the board; strong economy, weak inflation and unconventional policy make for tricky task
National Bank of Belgium sees deposit guarantee scheme as ‘missing component’
Central bank says a joint scheme is the ‘missing component’ of banking union, but argues risk-sharing must be accompanied by better risk control
Kenya sees a reduction in use of bank services
Mobile payments preferred, with 47.8% of the population using mobile services on a daily basis; banks now mainly used for salary payments
Domestic inflation remained ‘benign’ in 2015 – Rwandan statement
Inflation in Rwanda continued to record “moderate” and “low” levels throughout last year; current monetary policy stance “justified”
ECB governing council minutes stress need for good communication
Members of the ECB’s Governing Council agreed on the need for good communications but disagreed over the evidence of second-round effects in recent wage dynamics, minutes show
RBA board agrees China has ‘scope to respond’ if outlook worsens
Minutes from February meeting reveal board is wary a ‘sharp slowing’ in economic activity could spill over to other economies in region, though Chinese authorities could respond