Speech
Wheeler says further easing may be needed as RBNZ holds
Wheeler says interest rate cuts could be needed, though the RBNZ kept its key rate at 2.25% today; mixed picture with dairy export prices improving but currency still high
Time ‘ripe’ to consolidate public banks – RBI’s Gandhi
Consolidation could help banks spread their risk and compete on a global scale, deputy governor says – though they may need a “nudge” from government to get going
FinCoNet offers regulators chance to advance financial consumer protection – chairman
The association of national financial consumer protection agencies has made progress in supporting reform, but has considerable work ahead, chairman Sheridan says
MAS director hails work on natural catastrophe data
Bernard Wee introduces Natural Catastrophe Data Analytics Exchange, aimed at remedying “gappy” expertise in the region
Carney speaks of ‘new’ financial system to support sustainable finance
Bank of England governor launches FAIR initiative; FSB members developing more ‘effective’ macro-prudential policies to support system
RBI deputy outlines ‘key tasks’ for market development
Harun Khan lays out the main areas of work in broadening financial markets, including efforts to improve liquidity and access and improving central bank communication around debt management
Australian governor Stevens sees more viable options than helicopter money
Reserve Bank of Australia governor identifies a host of practical issues to helicopter money, and says there is more governments can be doing before then
Fed's Rosengren warns against exceeding full employment
Boston Fed president says significantly overshooting full employment, which he estimates at 4.7%, could lead to an overheating economy and “rapid removal” of monetary policy accommodation
Italian deputy governor calls for fiscal expansion in eurozone
Some eurozone countries should follow fiscally expansionary policies, Bank of Italy deputy governor argues; policy so far has been “less expansionary” than other major economies
Fed should stay the course with gradual rate rises – Lacker
The Federal Open Market Committee should continue raising rates, suggests Richmond Fed president; oil price falls and financial markets volatility both stabilising, Lacker argues
Kuroda: Negative rates having ‘visible’ impact on JGB yields
Bank of Japan governor Haruhiko Kuroda says rates are falling across the yield curve, falling negative up to a maturity of “around” 10 years; sees effects spreading in future
Norges Bank deputy pits Keynes against Hayek
Jon Nicolaisen says European countries may have invoked the lessons of Keynes without paying heed to the warnings of Hayek – both views are needed to avoid problems
Mexican deputy calls for ‘proper consideration’ of peers
Mexican deputy stresses need for improved policy communication between advanced economies and emerging markets
World needs ‘less and better’ finance, Bundesbank board member says
Regulators must resist political pressure to water down implementation of reforms; Basel III must increase capital requirements for high-risk portfolios, Bundesbank executive board member says
Rohde laments Denmark’s lack of banking reform clout
National Bank of Denmark governor says Danish system of mortgage credit does not necessarily fit well with Basel framework, but the country has limited options to influence reform process
Visco warns of danger of revising wages down if inflation undershoots predictions
Some Italian contracts will be downwardly revising elements of pay if inflation undershoots expectations, Ignazio Visco says; general adoption of this rule could harm the ECB’s policy
Skingsley sees turning point for Riksbank policy
Immediate threat is fading, enabling the central bank to focus more on longer-term risks, deputy governor says
PSR has taken ‘decisive action’ in its first year – managing director
Nixon marks PSR’s first birthday with speech in Copenhagen; regulator has helped in improving access and “levelling the playing field” for market participants
Canadian banks could withstand shock from China, deputy governor suggests
Financial institutions have adequate capital liquidity to handle external pressures, Wilkins says; research suggests Canadian growth would decrease by 0.1% if Chinese growth fell by 1%
Coen looks to wider issues affecting bank resilience
Secretary general of Basel Committee highlights importance of corporate governance and culture, IT systems and stress tests for resilience and profitability
Australian inflation likely to remain low for next two years, governor says
"Accommodative" monetary policy appropriate as GDP picks up, Glenn Steven says
Fiji central bank will launch second financial inclusion strategy ‘shortly’
Second financial inclusion strategy to place “special emphasis” on insurance; governor praises success of first scheme in meeting targets, but 27% of population remains unbanked
ECB had to act to forestall fall in inflation expectations, Praet says
The ECB had to expand its unconventional monetary policy to prevent a downward shift in long-term eurozone inflation expectations, Peter Praet says; inaction of others “no excuse”
Israel must close productivity gap, Flug says
Bank of Israel governor calls on government to work on closing gap with advanced economies, which could boost living standards by a third, she says