Speech
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
Monetary policy takes time to influence inflation, Tombini tells senate
Brazil governor says central bank will not “shy away” from acting to lower inflation; target of 4.5% to be reached by the end of 2017
ECB’s Mersch provides update on infrastructure work
Yves Mersch says business requirements being gathered from market participants ahead of instant payments; highlights plans for review of harmonisation of collateralisation procedures
Capital flow measures needed before offshore krona auction, says Guðmundsson
If the currency auction goes to plan, inward flows could strengthen and the Central Bank of Iceland needs the tools to resist them, its governor says
Deputy governor warns of perils in changing Sweden’s inflation target
Sweden would only be able to raise its inflation rate successfully if other major economies around the world did also, deputy governor Ohlsson says – competiveness would disappear
Banks start to clean up balance sheets after RBI asset quality review
Efforts will enable flow of credit in the long term, deputy says; improving capital buffers and governance structures also beneficial
Flug outlines state of play on Israeli credit information database
Governor says new database established and operated by Bank of Israel will strike a balance between being comprehensive and relevant; key appointments to follow
Zeti stresses need for Asean ‘partnerships’
Malaysia governor outlines four foundations anchoring successful partnerships; trust is crucial, she says, but must be accompanied by accountability
IMF’s Viñals announces ‘long and testing to-do list’ for policy-makers
Viñals says the plan for ‘great normalisation’ is more urgent than ever; calls for policy action beyond monetary and financial measures
Jamaica successfully restarts bond market, governor says
Government debt issuance in February was oversubscribed; Wynter hopes surplus liquidity will continue to increase, helping to accommodate ‘crowding-in’ of private investment
RBA’s Lowe says productivity still a problem
Australia has proven resilient through an uncomfortable rebalancing phase, but the economy is still plagued by disappointing productivity growth, deputy governor says
BoE’s Brazier values flexibility with bank buffers
Alex Brazier says Bank of England will have a bias towards ‘acting early and gradually’ on capital buffers; will not look for “irrefutable proof” of bad events
Kaplan to ‘closely monitor’ debt and ageing demographics in line with growth
Dallas Fed president will also look to other major economies throughout 2016 for patterns that may affect growth; the Federal Reserve will need to be patient, he says
BoJ’s Nakaso insists deposit rates are not going negative
Deputy says a 'wide range' of interest rates will fall due to the BoJ’s negative rate policy, but experience in Europe implies depositors will not suffer
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