Speech
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
Malaysian deputy tells companies to provide ‘more than just a payment solution’
Muhammad bin Ibrahim stresses importance of financial institutions providing “value-added services” to their customers if they are to remain competitive
Maechler says SNB plans to wield hefty balance sheet to encourage good governance
Swiss National Bank’s balance sheet has ballooned following currency interventions, leading to the question of what to do with the newly acquired assets
Dudley hits back at plans to curb Fed discretion
New York Fed chief says plans to force Fed to follow a monetary policy rule would lead to “significant policy errors”; supports transparency, but within bounds
Canadian economy may find ‘new balance’ at lower potential growth, Patterson says
Hit to the commodities sector likely to have knock-on effects, lowering broader investment and harming potential growth, deputy governor warns
BoJ’s Funo calls for efforts to revive potential growth
Board member uses first speech to back continued expansionary policy, highlighting steps that could help raise Japan’s potential growth from current depressed levels
Eurozone monetary policies ‘virtually exhausted’, Dutch central bank head says
Eurozone monetary policy is “virtually exhausted”, Dutch central bank head warns; structural reforms are needed to restore growth rates
Mauritius has gone ‘terribly wrong’ with respect to human capital, central bank governor says
Quality of human capital does not met the standard required to meet the disruptive challenges now facing Mauritius, governor Roi stresses
Some analysts see stress tests losing effectiveness – Stournaras
Greek central bank governor raises questions over perception of stress tests; regulators’ models need to take more account of national differences, he argues
Singapore official points to benefits big data offers insurers
Insurers can gain a competitive edge by harnessing insights from big data when designing products, the Monetary Authority of Singapore’s Chua Kim Leng says
BoE’s Breeden plots route to ‘third phase’ of global banking regulation
Regulators have moved from fragmentation to “balkanisation”, and now must work to establish full co-operation, executive director says
Philadelphia Fed president warns of ‘mismatch’ between education and business
Patrick Harker says there is a disparity between the education offered and practical skills needed by businesses in the US, which has likely contributed to slow recovery following crisis