Speech
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
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