Speech
BIS’s Shin highlights global liquidity dilemma for EMs
Head of research points to an uncomfortable balancing act among emerging markets exposed to foreign currency debt, which may be a factor behind the recent slowdown in their economies
Weidmann calls for ‘truly independent’ fiscal council
Jens Weidmann says there are shortcomings with existing proposals for the body, including the absence of a ‘comply-or-explain’ approach
Technology empowering bank customers, says Israeli supervisor
Further integration of tech into banks has increased competition in the market and amount of power customers have over financial institutions, Ber argues
Draghi reasserts ECB’s willingness to act
Mario Draghi says there cannot be any limit to how far the ECB is willing to deploy its instruments within its mandate, after easing package meets with lukewarm reaction on markets
Policy-makers need better models and data on bank and non-bank links, Fischer says
Data on a range of activities remains ‘inadequate’, while research has only shed ‘partial light’ on issues surrounding troubled financial institution during the crisis, Fischer says
BoJ’s Kiuchi wants to reduce flow of QQE
Board member says reduced flow of asset purchases would help relieve ‘excessive pressure’ on the Japanese government bond market and make monetary policy more ‘sustainable and stable’
Sarb deputy sees opportunity for reserve managers in Fed hike
Daniel Mminele encourages reserve managers to focus on the ‘investment horizon’ to take advantage of higher yields in the wake of Fed action
BoJ deputy says underlying inflation has ‘steadily’ improved
Kikuo Iwata says CPI inflation, excluding energy and fresh food, has been making a positive contribution of around 1% recently; discusses latest projections
Bank of Mauritius governor laments ‘unethical’ behaviour of some external auditors
Rameswurlall Basant Roi says the central bank has noticed moral compasses ‘erratically spinning’ and he warns of the consequences of poor behaviour
ECB should not expand QE programme in December, Lautenschläger says
Sabine Lautenschläger tells German audience ECB’s loose monetary policy is necessary but asset purchases should not be expanded; only structural reform will bring about European recovery
Lane tells Irish central bankers he’ll be in touch
New governor of the Central Bank of Ireland says he will be in ‘regular touch’ with his colleagues through his blog, video messages and also directly
Banking union prompts ‘strategic refocusing’ at EBA
Andrea Enria sees banking union as ‘game changer’ for EBA; sets out three ‘lines of action’ to approach new landscape
Policy-makers must drop ‘obsession’ with competitiveness, Cœuré says
Policy-makers must drop their ‘obsession’ with competitiveness and focus on increasing productivity instead, Benoît Cœuré says; researchers need to question assumptions of ‘conventional’ theory
Enforcement of global FX code of conduct still a work in progress, Debelle says
Reserve Bank of Australia’s Debelle notes the FX market is regulated differently from one jurisdiction to another when asked about enforcement of the planned global code
Buch keen for macro-prudential tools despite no guarantee of use in ‘near future’
Bundesbank’s deputy president says it is important the authorities have the ability to nip ‘any unwelcome developments’ in the real estate market in the bud, should they arise
Main threat to stability from low growth, says Italian deputy
Fabio Panetta says there is ‘broad agreement’ the main danger to financial stability in the eurozone stems from low growth; credit growth ‘remains subdued’
New York Fed’s Musalem: culture is as important as capital
Head of the New York Fed’s integrated policy analysis group highlights potential for ‘dissonant sub-cultures’ at firms that otherwise promoted values and codes of conduct
Stevens calls for end to obsession with central forecasts
RBA governor emphasises the uncertainty around forecasting; says he considered abolishing the central line in fan charts
Eurozone banks face 'in-depth' scrutiny of risk handling, Nouy says
Banks’ handling of risk is being subjected to in-depth analysis by the ECB’s single supervisory mechanism, Danièle Nouy says
Central bankers must research QE’s effects on inequality, Italian deputy governor says
Central banks must improve their understanding of how expansionary monetary policy affects inequality in developed economies, says Fabio Panetta
Terror attacks may have made European capital revival harder, Visco says
Terror attacks may hinder revival of European Union’s rate of capital accumulation, Ignazio Visco tells audience in Paris; capital market reforms present tough long-term challenges
Policy-makers must be prepared to handle Fed rate rise, Fischer says
Emerging market central bankers must be sure US rate rises do not have ‘major consequences’, Fed vice-chairman says; shift to more consumer-led Asian growth may benefit other economies
Dallas Fed’s Kaplan expects policy to ‘remain accommodative for some time’
Federal Reserve Bank of Dallas president says FOMC was ‘prudent’ to wait for more data in past few months; it is ‘probable’ rates will be lifted gradually
ECB’s Mersch explores construction of instant payments services
Yves Mersch says Eurosystem envisages services being constructed on scheme, clearing, and settlement layers, and considers challenges involved in each