Official Record
Emerging markets leading the way in cutting-edge payments innovations, UK report finds
Mobile payments embraced in emerging markets where banking infrastructure lags; Kenya’s M-Pesa system handles flows equivalent to a quarter of nation's GNP
Irish central bank begins publishing commission minutes
Ireland’s central bank starts publishing minutes from commission meetings; oversight body’s minutes will be released ‘to provide greater understanding’ of internal debates
Tobacco prices ‘insufficient’ to offset food and energy, says Tonga central bank
Headline inflation in Tonga rose to -1.2% in December, but in its inflation report for November, the central bank warns price increases will likely remain low
BIS stats show further retreat in global banking flows
Falling claims on China drive bulk of overall reduction in cross-border claims, but pace of decline slows compared with previous quarter
Tonga central bank promotes ‘prudent lending’
National Reserve Bank of Tonga says bank lending rose by 12% in year to November, driven chiefly by lending to households
Fewer counterfeit banknotes withdrawn in Portugal in 2015
Statistics released by Bank of Portugal reveal a drop in the number of counterfeits withdrawn from circulation last year; the €20 remains the most frequently faked denomination
Jamaican report says inflation risks balanced for 2016
Latest forecasts suggest inflation will rise to lower end of Bank of Jamaica’s target range in coming months; downside risks include reversal in food prices
Riksbank minutes reveal debate over monetary framework
Board members welcome debate over target variable and possible reinstatement of tolerance band, but af Jochnick warns changes should not be made simply because of recent failures to hit target
Malawi stress test shows three banks fall below Tier 1 requirement under minor credit shock
Latest stress tests show improved resilience but credit shocks remain greatest risk, Malawi’s latest financial stability report reveals
National Bank of Austria tells banks not to slow reform pace
Financial stability report notes trend of improving capitalisation has slowed; urges banks to continue the reform process and avoid short-term growth at the expense of stability
Turkish inflation to drift toward target over next two years, report says
Turkey’s inflation rate will remain above the 5% target for much of the coming year, the latest quarterly report from the central bank says
Restructuring Norwegian economy will take time, Norges Bank says
The Norwegian economy is suffering amid further falls in oil prices, and rebalancing will take time, but central bank policy is doing its best to support the transition, report says
Brazil private growth expectations slide further
Brazilian economy will contract by 3.62% this year with inflation breaching the 10% barrier, private institutions say
Central Bank of Armenia says currency turbulence has raised credit risks
Financial stability report says economy has been affected by sharp depreciation of the dram, worsening credit risk as many loans are denominated in US dollars
South Africa evades recession with positive growth in third quarter
Agriculture sector remains a concern despite economic growth in third quarter, most recent Sarb quarterly review notes
Consensus key for moving forward in Greece, says central bank
Bank of Greece stresses need for ‘unobstructed’ implementation of creditor agreement, as it publishes latest interim report on monetary policy
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