Speech
Illicit capital flows a problem for countries without capital controls – Mminele
Mminele explains how capital controls benefited cross-border flow monitoring; Sarb deputy calls for a “more consistent” approach to capital flow management
Macro-pru can offer ‘breathing space’ for Australian housing
Apra’s actions “will not address pressures”, but will provide “breathing space” as they should lessen the amplification of house prices, says RBA’s Lowe
Lautenschläger warns of ‘fragmented’ regulation in eurozone
Regulators should have powers over investment companies, ECB official says
Trade uncertainty is harming growth prospects – Poloz
Bank of Canada governor says uncertainty surrounding US trade policies is harming investment in both Canada and Mexico; Poloz is “not surprised” investors are reacting cautiously
Olsen highlights the importance of responsible investment
New ethics rules saw numerous companies excluded from the GPFG last year
BoJ’s Kuroda cites three channels to promote financial inclusion
Bank of Japan governor urges policymakers to enhance financial inclusion in Asia
Price disparity in housing market a cause for concern, says RBA’s Lowe
Australian house prices rising ‘briskly’ in some sectors, says governor of the Reserve Bank of Australia
Korean governor outlines limitations of GDP as economic indicator
GDP does not “fully capture” income or wealth distribution; Lee Ju-yeol offers alternatives based on microdata and other macroeconomic indicators
Adopting a dual mandate will not solve South African unemployment – Kganyago
Unemployment problems are caused by structural issues, Sarb governor says; scope for reducing unemployment through monetary policy is “smaller” than people imagine
Malaysian deputy wants ‘language of morality’ in finance
Encik Abdul Rasheed Ghaffour suggests transparency can help combat ‘rolling bad apples’ in Malaysian financial industry, but quality of the barrels is most important thing
BoJ’s Nakaso says digital currencies would allow ‘wider access’ to payments
Replacing banknotes with digital currencies would be “extreme”, deputy governor says, but would allow “wider access” to central bank payment infrastructure
Denmark is ‘not yet’ in a housing bubble – Rohde
Governor says current housing taxes are “destabilising”, and have had to be countered with macro-prudential policy
Deterioration in labour market not yet hitting unemployment – Chile’s Marcel
Chilean governor says self-employment has acted as a “significant buffer” as employment declined; unemployment not yet being affected thanks to “flexibility” of market, governor says
BoE’s Saunders hints at willingness to raise rates
MPC member signals he sees the UK economy running somewhat hotter than the consensus view suggests
Singapore governor says financial regulation would benefit from ‘fine tuning’
Regulation has helped strengthen the financial system, but policymakers should be wary of “pendulum swings”, Menon says; central banks should “not be afraid” to make adjustments
Chile’s Marcel praises Argentine reforms
IMFC chairman says reforms have “paid off”, helping the country re-enter the global economic stage; lifting of capital controls and export restrictions will contribute to Argentina’s growth in 2017
Balance sheet not an ‘active’ policy tool for normal times, says Fed’s George
Reductions in Fed’s balance sheet should be on “autopilot”, says George; establishing a “sound framework” will be important
Singapore to work with China on capital market development, MAS’s Loh says
“Wider suite” of risk management tools needed to stem risks rising from capital market liberalisation; opportunities to coordinate on other Chinese initiatives
Bank Negara Malaysia official offers tough line on corruption
Malaysia’s central bank has a “zero tolerance policy” and will not protect those who choose to cross a line, assistant governor says; institution has “refreshed” ethical framework
Mexico’s Carstens calls for continued trade cooperation with the US
Protectionist policies would be a step backward for both nations, Bank of Mexico governor suggests, saying continued cooperation will foster employment and investment
Norges Bank’s Nicolaisen: covered bonds can create distortions
Covered bonds are widely seen as a safe asset, but they face risks and could have unintended consequences for markets
RBA opens new ‘highly secure’ banknote vault
Australian central bank makes first investment in banknote storage and distribution in over a decade; Lowe says public have come to “rely” on “secure and high-quality” banknotes
Sarb deputy says political uncertainty will affect policy normalisation
Mminele asks whether central banks will enforce notion of economic slack as forward guidance reaches limits; political uncertainty rocking the policy landscape
BoE’s Vlieghe: good policy is more than accurate forecasting
MPC member says doctors cannot forecast heart attacks, but are still pretty useful before and after the event