Speech
Lagarde warns mediocre growth could become ‘new reality’
The "global recovery continues, but it is moderate and uneven", argues the IMF managing director, warning mediocre growth has the potential to become the "new reality"
Global economy in ‘unprecedented scenario’, says Linde
The global economy faces an "unprecedented scenario", including "risks to financial stability and possible highly volatile movements in the prices of financial assets", says Bank of Spain governor
Linde: ECB’s QE is already ‘bearing fruit’
Households and families are enjoying better financing conditions due to the ECB’s quantitative easing programme, argues Luis Linde, governor of the Bank of Spain
Israel’s Flug calls for new financial stability committee
Bank of Israel governor wants to ‘institutionalise’ collaboration between financial supervisory authorities; offers advice to new government on budget
Draghi defends ECB’s voting opacity
While extolling the virtues of central bank transparency, the ECB governor says not publishing a voting record allows members to support the overall decision despite privately disagreeing
Fischer looks to strengthen non-bank solvency and liquidity
Fed vice-chair says key issues for promoting non-bank sector stability are solvency and liquidity, and suggests policies that could be used to strengthen these areas
Olsen: Norway needs lower labour costs
Norges Bank governor Øystein Olsen argues labour costs must be brought into line with those of Norway’s trading partners to support a rebalancing of the economy away from oil
Yellen sees potential benefits in ‘tight’ labour market
Fed chair Janet Yellen says allowing unemployment to fall below its longer-run level for a short time could help return inflation to target quicker and boost productivity
SNB’s Zurbrügg: negative rates having ‘desired effect’
Governing board member says negative interest rates are influencing the money and capital markets as intended, noting the exchange rate has also started to normalise since the January decision
Haldane studies finance through lens of ‘complexity theory’
BoE chief economist sets out thesis in favour of viewing finance as a layered ‘system of systems’, with implications for the way risks are identified and managed
NY Fed wants ‘enhanced communication’ around cyber threats
Sarah Dahlgren says the New York Fed is interested in learning from breaches in security elsewhere and using the intelligence to ‘get ahead of the game’
Irish deputy encouraged by NPL progress
Cyril Roux says banks have improved their distressed debt operations but warns it will take several years to work though the stock of commercial NPLs still outstanding
Kalyalya: Bank of Zambia will revamp communications
New governor tells press the central bank will look to establish ‘more structured and regular’ communications with the public; sets out economic challenges and opportunities
Noyer says ECB can cope with solvency risks
Banque de France governor flags risks from balance sheet expansion, but says the ECB is ‘fully protected’ against solvency risks
Cleveland Fed’s Mester sees guidance as 'comms device'
Loretta Mester believes the Fed should stop using forward guidance as a policy tool when economic conditions have normalised and stick to setting out its reaction function
Kuroda says QQE bringing ‘landmark’ changes to Japan
BoJ governor sets out evidence that extraordinary monetary easing is bearing fruit, with inflation expectations rising and workers demanding higher wages
Lockhart backs ‘selective’ regulation of shadow banks
Atlanta Fed president argues for US authorities to ‘variably monitor and supervise’ all institutions with implications for financial stability, regardless of whether they are shadow banks
Haldane warns expectations could drag down wages
Lower inflation expectations putting downward pressure on wages, and could contribute to greater persistence of low or falling inflation, BoE chief economist says
RBA’s Debelle tackles term premia puzzle
Guy Debelle says the most plausible explanation for the prevailing low level of term premia in global fixed income markets is the shortage of risk-free assets
Carney confident of returning inflation to target in two years
BoE governor sees risk that global low inflation and strength of UK currency could weigh on prices for ‘some time’, but is confident the central bank is ‘on track’ for 2% inflation
McCafferty: BoE is right to look through oil price decline
The sharp fall of oil prices will have a temporary impact on inflation, since ‘supply rather than demand has been the dominant factor’, says McCafferty
BoJ’s Shirai: households sceptical of need for 2% inflation
Board member says better communication needed to explain to cash-strapped households why 2% inflation will be good for them in the long run
ECB’s Mersch tells banks to take advantage of reforms
Banks should tap into the ‘sizeable’ opportunities offered by banking union, ECB executive board member says, which could help them provide more credit to SMEs
Fisher says goodbye to ‘honourable tradition of central banking’
Dallas Fed president delivers last speech before standing down; talks about the value of public service and praises his colleagues for work at the Fed and ‘for the love of the thing itself’