Official Record
BoE minutes highlight risks from sterling strength
MPC members raise concerns over divergence of monetary policy and the resulting strength of the UK’s currency, which has the potential to hold inflation lower for longer
Bank of Israel studies economic damage from conflict
Latest hostilities between Israel and Palestine cost the Israeli economy around 0.3% of GDP, with effects stemming from falling tourism and lower consumption, annual report finds
Norges Bank faces ‘ripple effects’ from oil price collapse
Norway heading in opposite direction to generally favourable global trend, central bank’s annual report warns; banking sector profitable and resilient nonetheless
Bank of Uganda explains currency dynamics
Central bank attributes depreciation of the shilling against the dollar to both the strengthening of the US currency and the increase in demand for the greenback to fund imports and pay dividends
Central Bank of Brazil sees inflation gathering pace
Progress made in the fight against inflation is not yet ‘sufficient’, according to minutes from monetary policy committee meeting last week
Riksbank board uncertain about negative rate limits
Minutes from executive board meeting that led to negative rates and quantitative easing reveal uncertainty about where floor for repo rate might be
BoE’s MPC members diverge on interest rate outlook
Only common ground between committee members is rates likely to rise ‘over the next three years’, as some see the potential for further easing while others want rate hike soon, minutes show
Bank of Canada will only lend renminbi as ‘last resort’
The central bank’s financial markets chief says it is up to banks to manage their renminbi liquidity needs, including in ‘stressed circumstances’
Bundesbank says German recovery is faster than expected
Monthly report highlights ‘remarkable’ rebound of German economy, leading forecasts to be revised upwards; oil and euro depreciation behind the boost
PBoC report reveals extent of liquidity interventions
Quarterly monetary policy report reveals massive injections of liquidity to support the money supply as outward capital flows continue to accelerate
Carney: Expectations of Fed tightening could trigger ‘sharp adjustment’ in financial markets
FSB chairman says the ‘ongoing disconnect’ between risk-taking in financial markets and the real economy ‘poses the threat of sharp adjustments’
Riksbank: Economic activity in Sweden ‘at a standstill'
Central bank survey shows companies still being hampered by the slow recovery in Europe, leading them to try cutting costs to increase margins
Average debt ratio for Swedes with mortgages rose to 315% in 2014
New data from the Riksbank shows Swedish households, especially wealthier ones, increased their debt burden between July 2013 and July 2014
BoJ opinion survey highlights shift in expectations
Survey of public opinion sees Japanese people increasingly pessimistic about the economy as a whole, but there are signs the Bank of Japan’s policy efforts may be paying dividends
DNB paper calls for ‘fundamental overhaul' of Dutch pensions system
Central bank says current system has ‘opaque redistributive elements that are difficult to justify' and puts some generations ‘at a disadvantage in favour of others'
Central bank expects Serbian FX market to stabilise
National Bank of Serbia reveals it sold €1.8 billion and bought €260 million at various points last year in an attempt to ‘ease short-term volatility’ in exchange rate
DNB bulletin: International cooperation ‘essential’ over cyber threats
Latest bulletin from The Netherlands Bank encourages both financial institutions and national authorities to collaborate more in bolstering defences against attacks
Bank of England MPC still split 7-2 on rates
Minutes from the December meeting show Ian McCafferty and Martin Weale voted for a 25bp hike for the fifth consecutive month; they argue wage growth could ‘pick up sharply’
SBP annual report highlights ‘two phase’ year
Pakistan’s economy suffered turbulent spell in 2013, but IMF agreement saw a return to relative stability; central bank praises government for ‘long-awaited’ return to fiscal discipline
Czech banks ‘resilient’ to adverse shocks
Latest stress tests conducted by the Czech National Bank finds the country’s banking sector is ‘sufficiently resilient’ to shocks, including a ‘sizeable decline’ in economic activity
Ethiopia still ‘under banked’ despite 34% increase in bank branches
National Bank of Ethiopia reveals large increase in bank branches in annual report; argues there is still a need to ‘further develop’ the financial sector
PBoC highlights ‘rapid’ growth of electronic payments
Quarterly report on payments in China says electronic payments, particularly mobile payments, grew significantly in Q3
ECB watchers cut inflation forecasts
Average forecasts in 2014 and 2015 drop to 0.5% and 1% respectively, but probability distribution reveals little concern over deflation in the eurozone
RBNZ not ready to ease LVR speed limit
Graeme Wheeler welcomes falling house price inflation, but is wary of a potential ‘resurgence’ on the back of strong immigration flows; keeps speed limit in place for now