Official Record
Bank of Greece says new banking model needed to sustain recovery
The country's economy is ‘stabilising', according to the central bank's annual report on monetary policy, but until the banking sector returns to health, alternative funding channels will be needed
Bank of Thailand MPC insists rising inflation is ‘not immediate threat’
Minutes from November meeting show the committee voted to cut rates for the second time in six months despite one member’s concerns that inflation could continue to pick up in 2014
Bank of Canada warns over lingering economic vulnerabilities
The global economy looks more robust than it did when the Bank of Canada published its last Financial System Review six months ago, but risks remain
IMF warns Nigeria over large portfolio flows
Fund commends 'appropriate' monetary stance but warns of economic vulnerabilites caused by portfolio flows and dependency on oil receipts
Bank of Russia sees inflation out of monetary policy control
Improvements to the transmission mechanism should enable the Russian central bank to target inflation more effectively, but prices will be influenced predominantly by non-monetary factors
Korea sheds light on MPC voting results
Bank of Korea monetary policy report reflects on the decision to announce voting results in the wake of MPC meetings; only one disagreement in the ensuing seven meetings
Sveriges Riksbank calls for higher risk weights on mortgages
Central bank's latest financial stability report supports regulatory proposal to raise minimum amount of capital banks must back up housing loans with from 15 to 25%
Bank of England points to growing concern over low rates
Market participants say the risks surrounding low interest rates are now the third biggest cause for concern in the UK financial system, behind sovereign risk and the prospect of an economic downturn
Central Bank of Aruba 2012 annual report highlights drop in inflation
Average annual inflation in the Caribbean territory dropped from 4.4% in 2011 to 0.6% last year; says international reserves 'remained adequate'
RBA monetary policy statement says currency is too strong
Depreciation of the Australian dollar to the start of August has since been undone by the postponed Fed taper and positive Chinese data; weaker dollar will be needed to achieve balanced growth
Chilean policy-makers grow concerned over inflation
Central Bank of Chile board members voice concerns over persistently low inflation in their October monetary policy meeting; vote to cut key policy rate for first time in 18 months
Bank of Thailand lowers growth and inflation forecasts
Central bank says Thailand’s rising debt burden and falling consumer confidence are holding back domestic demand, which in turn is slowing the pace of growth and inflation
PMA attributes inflation disparity to Egyptian smuggling
The Palestine Monetary Authority blames the divergence between inflation in the West Bank and the Gaza Strip partly on the cheap goods being smuggled into Gaza from Egypt
Netherlands Bank says macro-prudential tools have ‘added value’ in currency union
Dutch central bank points to national and regional benefits of macro-prudential policy; says the ECB’s ability to intervene in an individual country’s policy will help counter the ‘inaction bias’ of policy-makers
Bank of Canada holds rates despite drop in growth and inflation forecasts
Governing council holds key policy rate at 1% despite suggesting inflation will take two years to return to target; says economy is rebalancing but the process will ‘take longer than previously projected’
Productivity still a puzzle for Bank of England MPC
Latest minutes show the monetary policy committee still does not really understand what is driving falling unemployment and rising productivity; inflation pressures seen softening slightly
Fed’s Beige Book reveals ‘modest’ employment growth
Summary of the economic conditions across the 12 Federal Reserve districts finds both employment and economic activity were ‘modest’ in September, while price pressures were ‘limited’
Swedish policy-makers clash on mortgage risk weights
Heads of Sveriges Riksbank and Swedish Financial Services Authority disagree over where to set the risk-weight floor on mortgages
BIS praises ‘complex’ payments reform in Macedonia
New payment system implemented near the turn of the century created a more efficient and sophisticated industry; potential EU membership driving additional reforms
NPLs hold back Serbian banks as economic imbalances remain, says central bank
National Bank of Serbia financial stability report warns change in the behavioural pattern of European banks; says Fed taper could bridle domestic credit and economic growth in the medium term
Netherlands Bank says ECB’s asset quality review necessary to restore market confidence
Dutch central bank says lack of market confidence is making it difficult for European banks to build stronger balance sheets, and that the ECB’s asset quality review will help address this
Demand for Bank of Portugal online stats grew 51% in 2012
The central bank’s website received more than 55,000 visits last year, with the statistical service offered online and on mobile devices the most popular feature
Central Bank of Ireland urges continued austerity despite slowdown
Any scaling back of fiscal adjustment runs risk of unwinding positive effects of €28 billion consolidation effort ‘for the sake of small short-term fiscal easing', bank argues in quarterly bulletin
Central Bank of Chile minutes reveal concern over slowing Brics
Slowdown in countries including Brazil, India, Indonesia and South Africa likely to have adverse effect on rest of the emerging world as well, board members say