Speech
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’
Ingves lays out toolbox at Riksbank’s disposal
Swedish central bank governor says he ‘will do more if necessary’ to fight deflation, arguing ‘there are several ways to make monetary policy more expansionary’
Spanish deputy favours ‘moral persuasion’ in supervision
Fernando Restoy believes supervisors should have the ‘ability to influence the decisions’ of the managers of the entities it oversees through ‘moral persuasion’
RBA’s Lowe sees altered transmission mechanism behind low inflation
Inflation remaining stubbornly low despite record levels of monetary stimulus seems to be down to changes in the monetary transmission mechanism, deputy governor says
BoJ’s Miyao extols virtues of open-ended QE
Outgoing policy board member says open-ended QE tends to have stronger effects than limited versions and may have additional impact via forward guidance and fiscal channels
Sarb deputy governor fears for oil-exporting countries
The positive and negative shocks of falling oil prices are ‘asymmetric’ and the impact on oil-exporting countries could ‘elevate’ global financial stability concerns, warns Groepe
Yellen sees ‘room for improvement’ on risk management
Fed chair says banks have strengthened their risk management, internal controls and governance, but more can be done and supervisors will be ‘watching closely’
Uganda governor troubled by effect of low oil prices on public finances
Uganda must have a ‘far-sighted long-term fiscal policy’ that recognises the threat falling oil prices pose to the health of public finances, argues central bank governor
RBI director calls for ‘strong law’ against cyber crime
A strong law help increase the confidence of the average person on the street in using technology in financial transactions, argues RBI executive director
Kuroda says oil shock has not thrown recovery off track
Inflation was nearing the target before being knocked down by the oil price collapse, BoJ governor says, insisting Japan’s ‘deflationary mind-set’ is still steadily fading