Speech
Hauser makes case for BoE’s second line of defence
Ballooning balance sheet and growing contingent liabilities raise need for central bank to bring its risk management in line with “best practice”, executive director says
Current account imbalances need to be addressed, Furusawa says
IMF deputy says imbalances in current accounts could increase volatility in the global economy; development of a safety net could reduce the need to accumulate reserves
MAS director calls for firms to promote good governance
As regulations shift towards strengthening culture at firms, there is only so much central banks can do, MAS’ Ngiap says; firms must put customers before profit
ECCB building named in honour of former governor
ECCB names central bank building after its longest-serving governor, Dwight Venner; current governor and former colleague pay tribute to late governor
RBNZ’s Wheeler: policy now has ‘neutral bias’
Risks to future rate movements “equally weighted”, governor says, though plenty of domestic and global risks could knock the outlook off course
RBI’s Gandhi thinks blockchain’s capabilities are being ‘overstated’
Deputy governor says virtual currencies issues on a blockchain network pose a number of risks; fintech industry starting to wake up to blockchain’s “exaggerated” benefits
New Barbados governor casts critical eye over public sector
Efficiency of services offered by the public sector needs improvement, says Haynes; current issues are a “great cost” to productivity
Fed needs quarterly monetary policy report, Bullard says
St Louis president argues for better Fed communication when it comes to monetary policy decisions; a quarterly report would align the US with international best practice
Barbadian finance minister thanks Worrell, despite sacking him
Sinckler says government will “eliminate reliance" on central bank financing; gives Worrell lukewarm thanks for his time as governor
Sarb’s Mminele concerned about ‘geopolitical risks’
Anti-globalisation and protectionist rhetoric are at the top of the deputy’s list when it comes to risks to the South African economy this year; Brexit negotiations also a concern
External review of the RBA to begin next month – Lowe
Governor tells MPs the central bank wants to identify opportunities for improvement; assessment will look into operation and administration, not policy framework
New legislation to grant BoE more power over payments infrastructure
BoE’s Bailey details consolidation of core retail payment infrastructure along with UK central bank’s new powers
ECB’s Cœuré argues against protectionism
ECB board member says protectionist policies reduce overall growth potential; calls for a more “efficient, enduring and equitable” approach to globalisation
Fed’s Williams says labour market figures are accurate
Current unemployment rate “accurately” reflects the state of the labour market; San Francisco Fed researches a broader measure of the market
RBA’s Ellis: cross-country and micro-factors matter for housing
The assistant governor sees country-specific and micro-factors as important to understanding the diversity of outcomes in the housing market
Asia needs new growth model – BoJ’s Kuroda
Region can no longer serve as “the workshop of the world” as the trade in goods slows down, says the Bank of Japan governor
Macro-prudential policy must move beyond core banking – BoE’s Brazier
Stressed firms may outwardly be resilient but collectively be “overwhelmed”, says BoE director, calling for collective work to understand “feedback loops”
Fed’s Fischer: econometric models are still flawed
US Fed vice-chair says models still cannot capture the complexities and rapid evolution of the economy – despite his hopes as an undergraduate
BoE should embrace the ‘spirit’ of the millennial – Carney
The millennial way of thinking is “better suited” to the current challenging environment – Carney; governor believes the younger generation might have something to offer when it comes to problem-solving
Canada’s Schembri highlights new inflation communication method
Bank of Canada has adopted three-pronged core inflation approach but now only publishes forecasts of headline inflation in its reports
BoJ’s Nakaso: inflation on upward path this year
Pressure on wages, rising commodity prices and a turnaround in expectations will drive up prices, deputy says; rejects calls for rate hike
RBA to ‘pay close attention’ to housing market in 2017 – Lowe
Rent growth remains weak but vacancy rates are not high, RBA governor says; households and banks are currently taking the right approach to the environment
BoE’s Cunliffe sheds light on investment issues
One in five firms report constraints on credit access reduced investment, BoE deputy says, while restrictions on internal fund usage have worsened the problem
Ingves sees cross-border resolution lessons from Swedish crisis
Crisis in the early 1990s prompted Swedish authorities to take early action on cross-border resolution, the Riksbank governor says