Speech
BoE’s Cunliffe warns of risks to loosening ‘regulatory straitjacket’
Regulators may need to ‘fine-tune’ the complex web of rules established since the crisis, but they should not be fooled into thinking the key to growth lies in light-touch regulation
BoJ’s Nakaso highlights changing behaviour of firms
Firms are increasingly investing and facing tighter labour market conditions, with record profits and higher wages providing a boost to the economy, but inflation is still stuck low
BoE’s Gracie praises TLAC and MREL standards
Executive director says loss-absorbing capacity provided by the two standards will help regulators co-operate across borders and ensure core functions can continue to operate
RBA’s Stevens wants reforms framed as positive narrative
Glenn Stevens argues the average citizen cares about economic potential, and reforms should be presented ‘as a positive narrative’ for growth
Kuroda flags three traps Asia should avoid
BoJ governor points to three traps that threaten growth in Asia and says boosting productivity is the best way to avoid becoming ensnared
RBI deputy says securitisation market is ‘raring to go’
R Gandhi dismisses concerns that Indian regulation of securitisations is too heavy handed, saying there are plenty of opportunities if firms are willing to seize them
Carney sees BoE inching towards rate hike
BoE governor says debate over rate hike will ‘come into sharper relief’ around turn of the year, but reiterates upward path will be shallow and any hike is data-dependent
Israel’s Flug wants to shine light on ‘grey market’
The alternative financing market, composed of both law-abiding and criminal elements, needs to be shrunk and brought under the supervisory spotlight, says Bank of Israel's governor
BoE’s Miles cautions against use of policy rate for financial stability ends
Use of monetary policy to tackle financial stability goals is less efficient than setting higher capital requirements, outgoing MPC member says
ECB’s Mersch calls for stricter convergence in eurozone
Executive board member says convergence should be more strongly enforced, as this could help pave way for common decisions in some areas of fiscal policy
Reform of Sterling Monetary Framework is ‘ongoing’, says BoE’s Salmon
Executive director for markets highlights potential for sharia-compliant facilities to be included in framework, among host of possible future developments
Zimbabwean governor says banks more stable
John Mangudya says the banking sector ‘remains safe and sound’ after the Reserve Bank of Zimbabwe moved to address credit risk and liquidity constraints
San Fran Fed’s Williams says Chinese government ‘realistic’ about growth
John Williams says most economists and officials understand growth will probably drop below current target of 7%, which may lead them to adjust reform timetable
Fed’s Brainard ponders whether systemic banks could choose to downsize
Governor Lael Brainard says systemically important institutions may choose to ‘reduce their systemic footprint’ as regulation kicks in and impacts cost-benefit analysis
Weidmann does not see case for higher inflation targets
The Deutsche Bundesbank president points to welfare costs of higher inflation target, and argues in favour of structural reforms that boost productivity and deliver higher trend growth
Stevens: global financial conditions remain ‘very accommodative’
Reserve Bank of Australia governor points to steady financial conditions and borrowing rates despite market fluctuations associated with China and Greece; RBA holds cash rate
Constâncio supports guided stress tests of shadow banks
ECB vice-president continues his campaign for new macro-prudential tools that can impact non-bank institutions, highlighting the importance of developing a ‘clearer picture’ of the sector
Albanian governor warns of ‘fragile’ inflation
Gent Sejko says supervisory council will likely keep key interest rate low ‘for some quarters ahead’ with inflation forecast to remain below target in 2015
BoE’s Weale outlines idea of one man, one hundred votes
Giving each MPC member 100 votes to cast would allow them to indicate much more nuanced positions and could make for better policy, Martin Weale says
Haldane blames ‘dread risk’ for ultra-low rates
Exaggerated fear of catastrophic but rare events may be a factor behind stubbornly low interest rates, Bank of England chief economist says
Glenn Stevens sees limits to central bank communication
Reserve Bank of Australia governor argues central banks cannot communicate its response to ‘all possible future states of the world’ and the audience is only after a ‘simple story’ anyway
Canadian deputy sees scope for deeper integration with US
Lawrence Schembri suggests bilateral agreement between the neighbouring countries on the resolution of banks with cross-border operations
MAS committing over $150m to help foster innovation
Ravi Menon reveals plans to help create a ‘vibrant ecosystem for innovation’ including the provision of funds to help lure banks into basing their R&D centres in the country
Fed’s Powell lays out payments reform priorities
Jerome Powell highlights four areas in which US payments need to improve as work begins to upgrade the economy’s payment systems