Speech
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
Leveraged markets not a financial stability risk – Powell
Powell examines state of highly leveraged markets with eye to financial stability, judging they are not yet a problem
Yield curve control has long history – BoJ’s Amamiya
BoJ’s policy of controlling long-run rates is not as unconventional as many critics argue, executive director says
FMI transparency needs to improve, Chile deputy says
Central bank leading by example with regard to improved FMI transparency and governance; disclosure framework for central bank’s settlement system to be completed in 2017
Central Bank of Philippines to improve surveillance – Tetangco
Philippines has “ample” policy space to respond to risks, governor says, but monetary policy will only be enacted to prevent inflation deviation
Completing reform agenda may not be enough – Caruana
BIS chief urges continuous effort to finish reforms, but says they need to be backed by policies that raise earning and debt-repayment capacities
Bank of Ghana improves communications strategy
A new 24-hour contact centre will allow queries from members of the public to be answered at all hours; the central bank encourages feedback on its communications
Spanish deputy governor hints at need for European banking mergers
Restoy says supervisors should not promote specific integrations
Senior ECB regulator calls for progress on deposit insurance
Unified deposit insurance plays “key role” in achieving “stable cross-border banking across the euro area”, Julie Dickson says
Yellen underlines the importance of education for the economy
Globalisation and technology are driving the demand for educated workers, Fed chair says, emphasising the important role education has to play in the evolving US economy
BIS’s Caruana: fiscal space is ‘slippery’
Fiscal authorities should not overestimate the available room for manoeuvre, as less obvious factors may pose constraints, BIS chief says
Sharper distinction in household vulnerabilities needed – Poloz
Latest financial stability review stresses importance of understanding difference in risk in housing sector; household indebtedness and housing market imbalances are key concerns
Bank of Ireland’s Cronin spells out Brexit process for insurance firms
“Hearts and minds” have to be in Ireland, says director of insurance supervision; 2017 will reveal the “reality” of Brexit, she says
Economic growth on the horizon for Finland, says Liikanen
Improved productivity and higher employment are needed to boost economic growth, says Finnish governor; Bank of Finland’s forecasts show recovery will be slower than in previous cycles
Kganyago warns of ‘importing structural instability’
Sarb governor highlights impact of global banking regulation on South African economy, as Barclays prepares to pull out of the continent
Cambodia to increase number of financially educated, says director general
Around 29% of Cambodia’s adult population remain financially excluded from services; central bank to coordinate financial inclusion approach with various government ministries
Riksbank’s Jansson rejects calls to scrap inflation target
Critics likely underestimate the benefits of the current monetary policy framework when calling for it to change, deputy governor says
Basel III challenging to implement in Islamic countries – Kuwait’s Al-Hashel
Central bank governor says discretion for Islamic systems, “though well-intended”, could create divergence and opportunities for regulatory arbitrage
SAMA governor outlines challenges facing Islamic banking sector
Unified accounting standards would “comfort” regulators and improve transparency for the industry, Alkholifey says; issues need to be addressed in order to foster growth in Islamic banking
Dombret paints gloomy picture of low rates’ impact on banks
Bundesbank board member spells out risks associated with low interest rate environment, noting banks are more likely to take risky assets onto their books the longer it prevails
BoE’s Hauser praises plan for integrated retail payments scheme
Faster Payments, Bacs and Cheque Clearing to be integrated into one system, Hauser says; ISO20022 to make interbank payments “much easier” for the UK
Ingves: internal modelling may create too much complexity
Basel Committee chair says complexity created by internal modelling has a range of adverse effects, though more research is needed