Australia
Stevens exerts pressure on Australian payments industry
RBA governor says the central bank would be ‘duty bound’ to use its regulatory powers to bring about change if the market does not do so of its own free will
RBA’s Lowe wants more market appetite for ‘real investments’
Deputy governor says key to returning growth and monetary policy to normality is persuading investors to create new assets rather than pumping up the prices of existing ones
Debelle surprised markets take central banks at their word
Reserve Bank of Australia assistant governor suggests markets are ‘underestimating’ the possibility that central banks will change course in response to ‘unexpected’ data
RBA’s Ellis urges policy-makers to look beyond economics
Head of financial stability says there is ‘a lot’ to learn from other research fields, even if some techniques ‘end up being dead ends for our purposes’
RBA’s Stevens lauds ‘substantial’ progress towards real-time payments
Reserve Bank governor says Australia is now closer to delivering ‘real-time, data-rich payments’; first meeting of the Australian Payments Council expected this month
Balance sheet saw ‘substantial’ growth in past year, says RBA’s Stevens
Combined impact of replenished capital and new financial market operations has seen balance sheet swell, according to the Reserve Bank of Australia’s annual report for 2014
RBA’s Richards outlines fast settlement service at Chicago symposium
Reserve Bank of Australia head of payments policy says the fast settlement service on the country’s new payments platform will be able to deal with ‘very short response times’
RBA discussing steps to cool ‘unbalanced’ housing market
Australia’s financial regulators are discussing whether ‘additional steps’ are necessary to address the disproportionate increase in credit to investors in the housing market
RBA bulletin considers Indian inflation measures
Research looks at differences between WPI and CPI, noting that prices have increased at a ‘much faster pace’ in the latter
FSB warns of ‘increasing signs of complacency' in financial markets
Concerns about the mispricing of liquidity risks are also raised at plenary meeting in Cairns this week, but ‘core of financial system continues to strengthen'
China could learn from Australia's financial reform, RBA paper finds
Discussion paper published by the Reserve Bank of Australia examines the country’s capital account liberalisation in the 19070s and 1908s, and considers its relevance for China
RBA governor says bank's ‘boring' monetary policy stance a success
Glenn Stevens notes external ‘search for yield' is bidding up real asset prices in Australia; most observers expect interest rates to remain low ‘for some time yet'
Norges Bank paper finds ‘booming' resource sector has ‘significant' productivity spillovers
Working paper also finds evidence of two-speed economies, with non-traded industries growing at a faster pace than traded
Australian payments council established with support of central bank
New payments council features members from 14 organisations across the payments industry – including the central bank – and was set up on basis of RBA recommendations
Glenn Stevens calls on ‘animal spirits’ to drive Australian economy
Governor of the Reserve Bank of Australia calls on businesses large and small to invest in new areas outside of the mining sector, suggesting that monetary policy has done its bit for the economy
RBA does not see inflation pick-up as threat to target
Minutes from latest board meeting show RBA staff expect inflation to remain ‘consistent’ with target despite annual CPI inflation hitting 3% in June
RBA appoints John Simon research head; UK Payments Council names interim CEO
Reserve Bank of Australia promotes John Simon to head of economic research department; Payments Council says Maurice Cleaves will start as interim CEO in November
US and Europe more vital for Australian trade than thought
Australian goods being exported to western markets indirectly via east Asia, skewing statistics, according to paper using ‘complementary' estimates of value-added trade
RBA deputy hints at renminbi clearing bank and RQFII quota
Philip Lowe reveals that Australia should get a designated clearing bank ‘in the coming months’ and hopes to obtain a quota for investment in mainland China shortly after
RBA governor questions impact of QE on risk-taking in real economy
Glenn Stevens says it is ‘hard to read’ whether the effects of QE are filtering through to the real economy; business capital spending remains low in many major economies
RBA sees subdued wage growth ‘for some time’
Minutes from latest board meeting reveal discussion on labour market; board members say conditions have improved ‘a little’ but wage growth remains ‘subdued’
Australians might be better off renting, paper finds
If people expect house price growth to slow relative to the past 60 years, they might be better off renting, according to a paper published by the Reserve Bank of Australia
Glenn Stevens lifts veil on RBA comms strategy
Reserve Bank of Australia governor Glenn Stevens says guidance on the future path of interest rates has ‘served its purpose’ and tells markets what to look for next
RBA likely to keep policy on hold
Reserve Bank of Australia board expects to keep its cash rate on hold at 2.5% for ‘some time yet’ as inflation remains within the central bank’s target