Speech
Boston Fed’s Rosengren highlights risk of overheating
US economy looks “resilient”, despite some mixed signals from the data, says regional Fed president; advocates process of gradual rate hikes as the risk of an overheating economy grows
RBA’s Lowe: credit not enough to measure financial cycle
Deputy governor says the financial cycle’s “considerable intuitive appeal” needs to be backed up with better research on measuring cycles, with balance sheets likely to play a key role
BoE’s Cleland discusses extending digital central bank money to the public
Costs and benefits need to be better understood, says Cleland, but the Bank of England is investigating all avenues
Singapore’s growth as a financial sector can no longer rely on luck – Menon
Resilience, dynamism and transparency needed for a prosperous financial sector, Menon says; Singapore can no longer rely on its previous good fortune to foster growth
Flug urges Israeli parliament to make haste in setting up financial stability committee
Bank of Israel governor says changes to banking competition increase the need for the new supervisory body, warning risks may be on the rise
Stevens highlights housing market improvement at final monetary policy meeting
Reserve Bank of Australia leaves rates on hold at Steven’s last monetary policy meeting; board assesses the current policy stance as appropriate to foster growth and achieve inflation target
ECB's Mersch cautions against ‘extreme’ policy measures
Central bank cannot fulfil mandate with “mathematical equations”, says Mersch, warning currency can be undermined by “extreme measures”
Kuroda says BoJ will not reduce easing, but helicopter money is not on its way
Governor offers clues on the central bank’s “comprehensive assessment” of its monetary policy, saying there are no limits to the scale of easing, but some policies are off the table
Co-ordinated effort needed to raise growth – Lagarde
IMF chief says all policy levers must be used to halt low growth; G20 also promised reforms to provide “growth impulse”
Time for private sector to take up economic reform baton – Jamaica’s Wynter
Fiscal and monetary authorities have played their part, and economic growth cannot be driven by the government, says Wynter
‘More market pressure’ on institutions to compete on safety, says RBNZ’s Fiennes
There is no government guarantee, says Fiennes; boards and managers are responsible for managing risks
Rajan tells regulators: do not be afraid of innovation
Regulators should not ban innovation in order to be safer, outgoing RBI governor says; innovation needs support to encourage its “appealing features”
Second half of global FX code to be circulated in October – Debelle
“Significant progress” has been made drafting the second phase, says RBA assistant governor; market participants will be able to comment on draft proposals and provide feedback
Nepal employing varied approaches to financial inclusion – governor
Bank has developed a number of models to make financial services affordable; other initiatives have included interest-free loans to those in rural areas
Economic outcomes will “vindicate” central bank – Malawi governor
Chuka asks the private sector to “trust” the central bank in its policy decisions; a reduced debt-to-GDP ratio and an end to drought should see inflation fall, he says
RBI’s Mundra hopes to boost credit to small businesses
Deputy governor outlines “ABCD” of issues affecting small businesses’ ability to access credit, including better access to information and new forms of collateral
Tightening policy during slowdown is not ideal, but necessary – Sarb governor
More fiscal or monetary stimulus will not generate growth in South Africa, says Kganyago, who instead stresses inflation outcomes need to be lowered
Sarb governor stresses need for cooperative approach against cyber risk
New legislation will give central bank power over financial stability; now is the time for financial industry to become “proactive” in fostering “healthier” cyber culture, says Kganyago
RBNZ’s Wheeler stands by inflation targeting
Despite a host of challenges for central banks, flexible inflation targeting remains the “most appropriate” framework for New Zealand’s monetary policy, governor says
US inflation target within ‘hailing distance’, says Fischer
The Fed is “close” to its targets says vice-chair; despite recent weak GDP figures, Fischer expects investment to recover in coming months
RBI’s Mundra says banks must evolve or face extinction
Deputy describes “dismal future” for banks, saying they must embrace a socially responsible approach if they are to avoid the threat posed by fintech firms and other non-banks
Malaysia’s Ibrahim proposes audit enhancements
Bank Negara Malaysia governor says audit faces new challenges and should cover broader risks, while expanding its scope to include “strategic auditing”
Solomon Islands’ Rarawa praises ‘innovative’ financial inclusion plans
Financing initiative for coconut industry promises to extend “digital banking penetration” in the Pacific nation, governor says
Islamic finance becoming ‘mainstream’ in Malaysia – BNM’s Ibrahim
Governor says Islamic finance has gone from a handful of firms to a quarter of the market in a matter of years; “pragmatic” approach may be part of success