Speech
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
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