Speech
Broadbent weighs pros and cons of digital currency
Issuing central bank digital currencies could make commercial banks safer but might also ‘impair’ their ability to make loans, BoE deputy says
Zeti considers central bank role in future Asian challenges
Malaysian governor encourages Asian policy-makers to look to future challenges; notes central banks may help address many issues on the horizon and ‘careful boundary management’ is needed
UK will not ‘heal’ if pay and productivity remain ‘stuck’ – BoE deputy
Cunliffe optimistic inflation will return to target as disinflationary pressures fade, also keeping close eye on productivity
Lenders should reward low-risk customers – Kenyan governor
Banks should praise those performing well regarding credit management, and offer low-risk customers better terms as a result, governor says
RBA’s Richards sees possibility for digital Australian dollar
New card regulation to be ready by May, says Richards; digital currency a possibility in the ‘more distant future’, but RBA not ‘actively considering’ it
Eurozone banks are taking more risks, Nouy says
Falling profitability of banks in the eurozone is pushing institutions into ‘into riskier territory’ and driving risk premia to historic lows, Nouy says; warns against ‘inappropriate cost-cutting’
RBA deputy sets out potential changes to interest rate benchmark
Debelle emphasises importance of the bank bill swap rate, outlines possible reforms including lengthening the window in which transactions are used to calculate rate
Wage settlements may force Sarb to hike rates further, deputy says
Sarb may look to tighter monetary policy to curtail any second round inflation effects from wage settlements; headline figure already above target range
Norway’s pension fund may be close to peak, Olsen says
Norges Bank governor says Norway should not count on being able to build its sovereign wealth fund much further, and must brace for a difficult period of rebalancing after the oil boom
South Africa continues to make progress in market conduct regulation, deputy governor says
Sarb in communication with regulators about revised code of conduct; next stage to be completed in ‘coming months’
BoE’s Furse sees benefits to UK as a global finance hub
External FPC member sees plenty of reasons why policy-makers in the UK should seek to make the economy attractive to global financial firms; says robust institutions are important
Fed’s Harker adopts more cautious tone on policy
Philadelphia Fed president says it may be more 'prudent’ to wait for stronger inflation data before hiking for a second time; sees inflation rising more gradually than before
BoJ’s Nakaso sees analytical challenge in gauging reforms
Policy board member says the design of standard models may be one reason why it is hard to tell whether Japan needs demand- or supply-side reform
Australian governor Stevens stresses policy ‘flexibility’
Governor says Reserve Bank of Australia has scope to ease monetary policy if need be, though economy expected to continue expanding
No room for mediocrity, Kenya governor warns banks
Patrick Njoroge tells bankers there is ‘only the thinnest of margins’ for error; each customer should be treated as if they were ‘the only customer in the world’
Fischer raises concern over ‘stigma’ around Fed loans
Fed vice-chair Stanley Fischer warns new reporting requirements in the Dodd-Frank Act will “likely add to the challenge of reducing stigma” associated with borrowing from discount window
Lender of last resort function must be flexible to cope with crises, BoE’s Hauser says
Central banks should prepare in advance to open up lender of last resort frameworks to new counterparties and instruments, Bank of England executive director says
Canadian deputy warns limits to macro-prudential tools may impact monetary policy
Timothy Lane says fiscal policy may have to step into the breach and provide stimulus when using monetary policy would risk creating ‘vulnerabilities’ macro-prudential policy can’t offset
RBI’s Gandhi: are regulators ‘barking up the right trees’?
Deputy governor stresses effective regulation is not about ever more detailed rules but rather taking a broad view and spotting emerging risks early on
ECB’s Angeloni wants analysis of macro-prudential measures ‘at some stage’
Supervisory board member says analysis will be important in the future, partly because it will help identify ‘scope’ of potential ECB actions
Esther George supports further rate rises unless outlook ‘significantly shifts’
Kansas City Fed president supports further rate rises unless economic outlook changes notably; normalisation justified by job increases and economic growth, she argues
Some eurozone countries increasing ‘regulatory fragmentation’, Lautenschläger says
‘Regulatory fragmentation’ between eurozone nations’ banking supervision regimes is being increased in some cases, Sabine Lautenschläger argues
Irish credit unions still face challenges, regulator says
Ireland’s credit union sector faces ‘significant challenges’ despite recent improvements, with numbers of institutions under loan restrictions ‘far too high’, central bank regulator says
Rajan flags pitfalls of short-term thinking
RBI governor extols the virtues of macroeconomic stability, defending the central bank’s strict stance on inflation and calling on the government to stick to its fiscal consolidation plans