Official Record
National Bank of Denmark expects recovery
Central bank says domestic demand and GDP growth will improve in 2013; existing unemployment should not have lasting impact
Chilean board members wary of low inflation
Chilean wage growth is outstripping inflation; board members show concern but hold rates
Pakistan says Nato pull-back worsened rupee depreciation
State Bank of Pakistan annual report finds closure of Nato supply lines to Afghanistan contributed to a 9.1% depreciation of the rupee against the dollar in fiscal 2011–12
Malawi at risk in wake of currency devaluation
Financial stability report reveals inflation doubled after Malawian government floated exchange rate and devalued currency by 50%
Central Bank of Ireland drops growth forecast for 2013
Irish central bank lowers growth expectations in 2013 in response to weaker global demand; targets increased productivity in domestic economy
Bank of Russia warns some banks must enhance capital adequacy
Financial stability review says financial conditions remain ‘quite favourable’, but raises concerns over a downward trend in capital adequacy
Polish monetary policy council divided on size of rate cut
National Bank of Poland lowers interest rate for third successive meeting; some council members push for even deeper cuts
IMF predicts chequered growth performances in 2013
Updated World Economic Outlook forecasts wide disparities between countries’ growth performances in the next year; overall estimates revised down since October
Bank of Spain charts economy’s downward acceleration
Data for fourth quarter show economy continuing to spiral downward, with contractions in growth and demand gaining pace
Fed’s latest Beige Book finds post-hurricane rebound
States that bore the brunt of Hurricane Sandy report improved conditions in all but the hardest-hit areas, as ‘modest or moderate’ growth continues; unemployment remains stubborn, however
Sri Lankan central bank sounds positive note for 2013
Monetary policy review forecasts moderation in inflation and robust economic growth; committee votes to hold repo rate at 7.5% and reverse repo at 9.5%
MAS sets out FMI supervisory framework
Monograph gives details of Monetary Authority’s approach to regulating financial market infrastructures in line with CPSS-Iosco principles
Bank of Korea foresees long road to recovery
Economic outlook report predicts sluggish narrowing of Korea’s negative output gap; central bank keeps rates on hold
Kenyan interest rate continues to plummet
Benchmark interest rate nearly halved since September; latest cut intended to increase uptake of expanding private sector credit
Bank of Zambia mounts charge on financial education
Central bank hopes to create financially educated population by 2030 and provide Zambians with tools to secure ‘positive financial outcomes’ for their families
Bank of Korea warns of forthcoming credit tightening
Bank lending survey finds a recent trend of credit easing is likely to be reversed in the first quarter of 2013; credit risk expected to run at ‘high levels’
Netherlands Bank report urges restructuring of mortgage finance
First meeting of the Netherlands Bank’s Financial Stability Committee endorses action to address risks surrounding high mortgage indebtedness
Riksbank board members clash over inflation forecasts
Minutes from December monetary policy meeting show disagreement over impact of 25-basis point rate cut on inflation
Bhutan governor gives banking sector assurances
Royal Monetary Authority of Bhutan 2011–12 annual report reveals ongoing liquidity crisis; inflation increases to 13.5%
Belgian bank survey reports gloomier outlook
National Bank of Belgium survey finds improved financial market conditions are not feeding into the real economy, as respondents again revise down 2013 growth forecasts
BoE survey shows businesses credit increased ‘significantly’ in fourth quarter
Bank of England survey finds credit extended to households and the corporate sector increased in the last quarter of 2012
Bank of Russia increases inflation target for 2013
Guidelines for monetary policy in Russia over the next three years include revised inflation goal for 2013; inflation overshoots target band in 2012
Bank Indonesia stepped up stability efforts in 2011
Annual report shows central bank went to greater lengths to ensure exchange rate stability and promote resilience in the banking sector
World Bank weighs impact of QE on capital flows
East Asia and Pacific economic update notes large capital inflows into some countries following easing by Fed, ECB and BoJ; Thailand and Indonesia experience most significant flows