Speech
Eurozone still not a complete monetary union, Draghi says
Further reforms to create “common institutions” are necessary, ECB president argues
Some G20 initiatives have harmed EMs, says Mminele
Reforms have led to G-Sibs reassessing their business models, leading to a rise in de-risking, says Sarb deputy; Africa is seeing a “pronounced decline” in correspondent banking
Draghi examines financial integration through a digital lens
Digitalisation will help with financial integration, but beware of the risks, says Draghi; fintech is high on the ECB’s strategic agenda
Basel capital floors are necessary – Riksbank’s af Jochnick
Internal models have led to doubts over true capital adequacy, Riksbank deputy says, so floors have an important role to play
Mersch: volume of T2S trades due to greatly expand
The “Target instant payment settlement system” could be working as soon as 2018, Mersch adds
El Salvador governor highlights benefits of increasing minimum wage
New minimum wage legislation will improve the living standards of 19.9% of households, says El Salvador governor; raise will also have positive impact on total economic growth
Irish central bank to survey credit unions’ controls
Central bank has “concerns” over quality of some institutions’ systems, deputy registrar says
Forex code working group liaising with regulators – Debelle
Many regulators are interested in understanding how the code could be used to monitor market activity, working group chairman says; both FCA and Asic are in talks
Sarb deputy says G20 is ‘running the risk’ of being seen as inactive
Mminele says international leaders should intensify their “communication”, to foster inclusive globalisation; protectionist policies will not work in the current landscape, he says
Bundesbank DL project not yet viable – board member
The conceptual study is “far from market-ready”, says Carl-Ludwig Thiele
Protectionism will undermine global trade recovery – Greek deputy
Mourmouras warns Donald Trump against enforcing protectionist policies, highlighting the negative effects it could have on global trade
US Treasury secretary shows early support for Fed
Mnuchin says Fed is organised with “sufficient independence”, going against early expectations he would support the Audit the Fed movement
‘Flash’ currency moves will continue to surprise markets – BoE’s Salmon
Bank of England executive director says there is “growing potential” for flash events to occur in core markets, despite markets now being able to identify risks
Irish governor calls for better international finance data
Links between holders and issuers of instruments are badly understood, Lane says
Coeuré: Europe must redistribute gains from new technologies
Automation might destroy jobs faster than it creates them, ECB official says
Yellen: Fed asset holdings provide automatic policy tightening
Downward pressure on long-run rates is expected to diminish, making the need to hike short-term rates less pressing, the Fed chair says
Right culture is vital for insurance firms – Irish regulator
Sylvia Cronin says proper approach cannot be “regulated into existence”
Bank of Canada re-modelling export links to US – Poloz
Previous approach may have over-estimated importance of US when modelling exports, governor says; uncertainties over US fiscal policy makes forecasting challenging
Inflation is ‘simply not a problem’ – Dudley
New York Fed governor not worried about risks to inflation given recent data and expects current economic expansion to continue for the foreseeable future
Riksbank’s Skingsley says payments innovation needs balance
Central banks should use combination of “hands on” and “hands off” approaches, and strike a balance between innovation, stability and growth, deputy says
Villeroy de Galhau highlights factors behind slow growth
French governor highlights importance of wage-setting mechanisms
Policy tensions in China to become ‘more stark’ in 2017 – Menon
MAS head says China's authorities will have to use a fair amount of “policy dexterity” this year to deal with likely US rate rises and volatile international markets
Harker optimistic in first speech as FOMC voting member
Inflation target set to be met this year, says Philadelphia Fed governor, noting labour force participation issues need to be addressed with legislative action
Monitoring the labour market is key – BoE’s Saunders
Bank of England’s MPC member says unemployment should stay below the equilibrium 5% estimate in 2017 – but, should “warning signs appear”, changes to forecasts could be made