Speech
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
Cleveland Fed’s Mester lays out ‘considerable progress’ on payment systems initiative
Loretta Mester tells New York conference of progress in appointing leaders and accumulating members for faster payments and secure payments task forces
RBA’s Debelle outlines potential benchmark rate reform
Australian consultation paper suggests modifications to the calculation of the bank bill swap rate, with one option expanding the set of transactions covered
RBA’s Kent sees positive side to Chinese readjustment
China’s economic rebalancing is likely to bring benefits to Australia’s economy as well as costs, Reserve Bank of Australia assistant governor says
Visco questions sufficiency of five presidents’ report
Italian governor stresses progress ‘on the side of the political union’ should be considered sooner rather than later; broadly supports direction of roadmap
Russian corporate banking recovers despite sanctions and oil price fall, governor says
Bank of Russia ready to expand for large-scale foreign exchange operations if oil price falls
It is ‘OK’ if researchers challenge Bank of Canada council, Wilkins says
Senior deputy governor outlines new procedure for publishing papers independently from the governing council; advocates ‘intellectual space’ for ideas
Haldane charts impact of automation on UK economy
Up to 15 million jobs could be at risk from automation in the UK alone, the BoE’s chief economist says, adding a rate rise is unnecessary at this juncture
Mersch considers unintended consequences of regulation
Eurozone policy-makers must be careful that their efforts to reform the financial sector do not create ‘new externalities’ risks for banks, says Yves Mersch of the ECB’s executive board
BoE’s FPC must be sharp on risks as next phase of credit cycle emerges, Cunliffe says
Cunliffe examines different approaches to setting macro-prudential policy, noting the BoE’s work towards countercyclical stress testing of banks