Speech
ECB’s Constâncio calls for eurozone to cut back on debt
ECB vice-president says deleveraging has proceeded slowly so far due to growth concerns; emphasises debt reduction ought to be done using diverse measures, but says primary surpluses are key
BoE’s Cunliffe sees more efficient UK firms in coming years
Deputy governor justifies MPC forecast that productivity growth will finally pick up in 2016 and 2017, pointing to the potential for efficiency gains within firms as the economy grows
Jordan: SNB does not expect ‘sustained’ price drop
Thomas Jordan says the Swiss central bank does not expect a deflationary spiral as inflation will return to ‘positive territory’ early in 2017
Bank of England's Rule says reigniting securitisation market will take time
Executive director cautions against rushing to restart securitisation market, as a return to pre-crisis ‘fragile’ market would be counterproductive
RBA’s Kent says transmission mechanism seems to be weathering shocks
‘Headwinds’ are working against the Australian economy but the evidence implies the monetary transmission mechanism ‘is about as effective as usual’, assistant governor says
Nowotny considers ‘human costs’ of structural reform
National Bank of Austria governor challenges economists to think about the quality of economic growth, suggesting this could have implications for the pursuit of structural reforms
BoE’s McCafferty says UK not yet in ‘true deflation’
External MPC member says ‘dangerous but rare’ deflation has not taken hold in the UK, although inflation expectations have shifted down slightly
Sarb deputy wary of weaker currency with inflation rising
Daniel Mminele warns any ‘significant weakening’ in the South African rand in response to a Federal Reserve rate hike could cause inflation outlook to deteriorate
Weidmann sees bond reversal as ‘a kind of re-normalisation’
Bundesbank president argues sell-off is a ‘correction of market overshooting’ in the wake of ECB asset purchases; insists volatility is ‘not exceptionally high’ at present
RBA’s Stevens says infrastructure project could help solve growth problems
Governor sees limits to monetary policy and urges government to fill the void by maintaining spending and launching a long-run infrastructure plan
Noyer: IMF’s decision on SDR not politically motivated
Banque de France governor Christian Noyer acknowledges ‘symbolism’ of the IMF’s currency basket, but stressed the composition is based on technical work and not politics
Wilkins warns ‘a lot of work remains’ in implementing reforms
Canada’s senior deputy governor stresses need for coordination among regulators; suggests bilateral agreements could be useful given trend toward regional banking
Dudley expects ‘some turbulence’ when Fed hikes rates
New York Fed president highlights importance of short-term rate path for financial asset prices – something he says will reflect changes in economic outlook and financial conditions
Irish deputy sees value in ‘well-developed’ rental market
Stefan Gerlach says it is important renting is an attractive long-term proposition, as deeper rental markets help make the economy more resilient to shocks
Kohn targets more ‘systematic’ macro-prudential policy
Member of the Bank of England’s FPC says the committee should keep developing a more systematic approach to identifying risks and choosing tools to address them
Klaas Knot blames disharmony in regulation for higher risks
A lack of common standards in eurozone capital markets was an ‘aggravating factor’ in the run-up to the financial crisis, Dutch governor says; urges commission to add this to CMU proposals
Liikanen sees potential for payments revolution
Bank of Finland governor says we are yet to witness the emergence of a ‘true future payment system’ but it nonetheless feels like ‘something fundamental has changed’
ECB’s Mersch wants pan-European instant payment system
Executive board member hopes to bypass national schemes and use Sepa infrastructure to deliver pan-European instant payments
Fed’s Brainard sees scope for ‘watchful waiting’
Governor says there may be room to ‘support further healing’ in the labour market before raising interest rates, but notes first hike could still come this year
Nowotny sees ‘strange irony’ in Austrian success
Central bank governor argues policy-makers made Austria economically successful by acting contrary to the libertarian approach favoured by the Austrian School of economics
Boston Fed president preaches patience
Eric Rosengren says it is too soon to know whether weaker economic activity at start of year is down to temporary factors or ‘broader changes in the economy’
FCA’s Wheatley highlights complexity of banking cultural reform
As banks are hit with yet more record-breaking fines, the head of the UK’s financial watchdog argues they are trying to change their ways, but the job is not a straightforward one
Kocherlakota sets out path back to maximum employment
Minneapolis Fed president says the FOMC should set policy in a way that allows for at least three more years ‘as good as 2014’ if the labour market is to achieve highs last seen in 2006
Micro-prudential policy ‘bulwark’ against systemic risks, says San Fran Fed’s Williams
President says prevalence of shadow banks limits use of conventional macro-prudential tools, but there are other ways to integrate the perspective into the regulatory framework