Speech
Dombrovskis praises idea of bundling European sovereign bonds
European Commission is “closely following” work on designing new instruments
Financial integration will strengthen region – Thai governor
Santiprabhob says policies need to “converge” in order to create an integrated market; payment systems would be a good place to start with harmonised standards a proven solution, he says
BNM’s Ibrahim urges Asia to “re-engineer” global monetary system
Countries should reduce their reliance on the US dollar and promote a “multi-currency market” within Asean, says Muhammad bin Ibrahim
Brainard turns cautious on inflation concerns
Lack of wage growth and lower than expected inflation data could slow further monetary easing, says Fed governor; interest rates are likely to rise “soon”
NPLs ‘must’ rise during downturns – MAS’s Menon
If NPLs failed to rise during “difficult times”, that would be a sign banks are not doing their job right, MAS chief says
MAS seeking to build data science community, says chief data officer
David Hardoon urges people to embrace data science and computing; authority is looking to build links with academia and financial sector to share ideas
Bernanke urges BoJ to keep up its easing efforts
Former Fed chair recommends the central bank continue its aggressive easing, though he concedes “bad luck” could yet cause it to fail
Zhou highlights need for ‘financial connectivity’ under Belt and Road
Initiative has sizeable financing demands that will require efforts to improve cross-border financial links, PBoC governor says
Dombret asks what form of international economic co-ordination is viable
It is impossible to have full global market liberalisation and national sovereignty and democracy, Bundesbank board member says
Fed should make sure it does not ‘fall behind’ – Mester
US central bank should “remain vigilant” as employment reaches full capacity and the balance sheet begins to unwind; the Cleveland Fed president sees more rate hikes this year
Malaysian central bank to name and shame non-compliant banks
Bank Negara Malaysia to publish enforcement actions next year, while introducing regulation to allow banks to share information on employees engaged in misconduct
Uganda will ‘claw back’ losses – Tumusiime-Mutebile
Ugandan governor remains upbeat about the country’s growth, with new figures showing recovery in both the services and industrial sectors; he urges people to ignore pessimistic media reports
Physical currency is still necessary and relevant, says BNM deputy
Deputy governor of Bank Negara Malaysia says cash is a key branding tool of central banks; BNM is in the process of building a new modern mint
Forecasting would improve with more regular data, says RBNZ’s McDermott
New Zealand is one of two advanced economies that uses quarterly data instead of monthly; current schedule has limited forecast improvements, RBNZ assistant governor says
Dombret defends SSM as a ‘supervisory framework’
Bundesbank board member acknowledges there are issues, including communication, with the SSM and suggests targeting language barriers to reduce “home bias”
Protectionism is a ‘dead end’, says New York Fed president
Dudley highlights the second-round impact of protectionism, which ultimately harms higher-paying jobs; policies should foster competition and provide more assistance to workers
New York Fed legal vice-president challenges ‘check the box’ mentality
If a compliance regime does not accept blame or responsibility, then it has failed says Held; regimes should not be afraid to uncover problematic behaviour
Europe needs reform, Draghi says
ECB president repeats call for European deposit insurance scheme
Gaps in real estate data could threaten financial stability – Buch
Bundesbank vice-president highlights importance of monitoring credit conditions in tandem with house prices; G20 looks to data collected and distributed to fill gaps
Kuroda cautions banks about keeping in step with fintech innovation
Bank’s business models could come under threat if institutions are unwilling to embrace fintech; regulatory sandboxes offer safe space to embrace it, says BoJ governor
Kashkari has inflation concerns about bitcoin
The potential of digital currencies lies with underlying infrastructure, Minneapolis Fed president says; the Fed is “paying attention” to the issue
Increasing female participation in workforce will help US growth – Yellen
Fed chair examines barriers women still face when entering the workforce; increasing participation rate could help increase US output by 5%
Mersch warns banks not to turn away from cash
Central bankers witness “frequent lobbying” to abolish cash, ECB board member says
Israel’s Flug: action needed on productivity
Bank of Israel governor warns Israel remains a laggard when it comes to growing output per person