Speech
RBNZ’s Bascand says banks now less reliant on offshore funding
New Zealand banks are attempting to reduce risk and respond to regulatory changes by tightening lending standards and “aggressively” competing for deposits, says RBNZ deputy
Policy mix has important implications for spillovers – Fed’s Brainard
Fed governor says degree of divergence between central banks and choice of policy tool affects the exchange rate impact and therefore spillovers
Kganyago says public protector’s response was ‘not good enough’
Response to central bank’s challenge exposed Mkhwebane’s “own lack of competency”, Sarb governor says, reiterating that the central bank’s mandate should be “left alone”
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
BSP’s Espenilla: Philippine banking system is ‘very robust’
Central bank to use data-gathering portal to improve services and increase communication with the general public
Brainard cautious over further hikes in interest rates
Fed governor says she will be watching inflation “carefully” over the coming months, stating the unwinding of the balance sheet will begin ”soon”
ECB’s Cœuré says asset purchases are not responsible for exchange rate movements
Executive board member says Europe’s asset purchase programme has boosted economic growth and inflation prospects; policy not “fundamentally different” from conventional policy
PNG governor urges country to reduce reliance on extractive industries
Bank of Papua New Guinea governor says country needs to diversify its industries and create a culture of savings
Bundesbank’s Buch calls for three-pronged reform effort
Bundesbank vice-president says policymakers should tackle “excessive” risk-taking to prevent further financial crises; evaluating reform is key, says Buch
Time to ‘reignite’ SME development, says Zim governor
Mangudya notes importance of SMEs in supporting nation’s economy but acknowledges access to banking sector is currently poor; financial inclusion strategy aims to help
Mystery shopping can strengthen supervision – MAS executive director
Unconventional tool can help distinguish whether accounts are misleading or inaccurate; supervision needs to be backed by “appropriate” enforcement
Brexit should not lead to restrictions on financial trade – FCA’s Bailey
If UK and EU work hard to maintain similar regulations, Brexit need not lead to restrictions on open markets and free trade, says FCA chief executive
Authority needed to tackle housing problem – Malaysian deputy
Malaysian deputy discusses the affordable housing dilemma, concluding that greater co-ordination is needed on a national level
Macedonia’s Kadievska: DLT could ‘completely replace’ some intermediaries
Maja Kadievska analyses the pros and cons of distributed ledger technology, noting it could have the power to cause disruption to existing financial market infrastructure
Irish supervisor warns of return to light-touch regulation
Some banks’ handling of liquidity issues is concerning, says Sibley
Sarb to increase engagement on monetary policy
Governor says central bank officials should be the ones to outline “sensible” view of monetary policy; wants debate over mandate to be based on facts
Bank of Canada broadening intelligence gathering with new survey
Systemic risk survey will be launched next year, says deputy governor, emphasising market intelligence can never provide a “perfectly complete picture”
Carney comments lead to sterling wobbles
Pound leaps as markets interpret comments as sign Bank of England governor is contemplating a rate hike later this year
Fischer cautions against complacency
Fed vice-chairman says it would be “foolish” for policymakers to think they have eliminated all risk; there are still areas where supervisors have “limited insight”, says Fischer
RBNZ’s Hannah: central bank is working to close trust gap
Survey in 2014 showed how poor public understanding of the central bank’s work went hand in hand with low trust
BoJ’s Iwata says expectations likely to shift as inflation returns
Deputy governor cites Milton Friedman in arguing that people will become more forward-looking when their wages are eroded by inflation
Fed’s Powell looks for ways to reduce ‘unnecessary burden’ of regulation
Fed governor tells senators he sees room in some aspects of post-crisis reforms to ease the burden on banks, though he stresses the need for “vigilance” against new risks
Regulatory tightening has caused decline of money growth, PBoC official says
PBoC official says regulatory policy and monetary policy go hand in hand; recent flurry of regulatory activity is impacting monetary policy
Europe must learn right lessons from crisis – Olli Rehn
Moral hazard should not dominate policymaking, Finnish board member says