Official Record
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
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