Speech
RBA markets head details Australian approach to securitisation
Chris Aylmer outlines RBA’s ‘very high standard’ of ABS risk management in its liquidity operations, saying the approach will evolve over time
Malaysian deputy backs ‘constructive ambiguity’ in comms
Muhammad bin Ibrahim says less might be more when it comes to communicating macro-prudential policy; Bank Negara Malaysia allows for some ‘constructive ambiguity’
Powell says ‘good deal more’ needs to be done on CCPs
Fed governor Jerome Powell stresses the need for international coordination to ensure that reforms on the central clearing of OTC derivatives live up to their promise
Cleveland Fed president sees forward guidance evolving in normal times
Loretta Mester suggests it will focus less on when policy will be changed and ‘more on the rationale for policy decisions’; sees FOMC summary of economic projections playing ‘central role’
Malaysian deputy says Islamic banking has inclusion role to play
Muhammad bin Ibrahim highlights potential of Islamic banking products to improve financial inclusion, by channelling funds directly to small businesses
Kocherlakota wants FOMC to stress target symmetry
Minneapolis Fed president wants FOMC to clarify inflation objective; also calls for adoption of benchmark two-year time horizon for returning inflation to target
MAS deputy charts path toward new financial products
Jacqueline Loh believes greater integration within and across Asia’s capital markets could pave the way for new financial products, including through securitisation
Kuroda affirms determination to ‘drastically convert’ Japan’s deflationary mindset
BoJ governor stresses commitment to continue with drastic policy measures until the ‘chronic disease of deflation’ is eradicated, in first speech since quantitative easing was ramped up
Georghadji sees ‘turning point’ for Cyprus banking sector
Central bank of Cyprus governor says the outlook for the country’s banks is ‘very positive’, but warns against a return to the sector’s previous lending practices
Fisher ‘encouraged’ by FOMC guidance
Dallas Fed president Richard Fisher welcomes FOMC statement last week; believes ‘flight pattern’ of US economy is toward higher employment and inflation at the 2% target
Visco calls for ‘block disposal’ of impaired assets
Bank of Italy governor laments growing stock of NPLs in country’s banking system; calls for ‘active management and recovery procedures’ to address it
Yellen: Economics profession can benefit from more diversity
Janet Yellen argues economies ‘develop and become more stable through diversification’, noting the failure of economists brought a public debate about the health of the profession
Bank of Canada governor highlights need to ‘incorporate uncertainty' in decision-making
Stephen Poloz says central bank uses ‘ranges rather than points' in its inflation and growth forecasts; estimates neutral rate of interest to be between 3% and 4%
Haldane laments poor grasp of international monetary system
BoE chief economist says regulators have paid insufficient heed to the global financial system as a whole; wants ‘Star Trek chair’ from which to survey the landscape
Zeti: Sukuk market has potential to fund infrastructure projects
Bank Negara Malaysia governor argues infrastructure projects need broader funding with sukuk markets an ‘important new source’
BoE’s Cunliffe says odd behaviour of labour supply demands caution
Deputy governor points to possible ‘shift in the psychology’ of workers who have come to accept low pay, which he says calls for the central bank to be cautious about raising rates too soon
Bank of Mauritius governor hails ‘rejuvenated’ staff
Rundheersing Bheenick says new hires and the creation of ‘director of technology’ position help the central bank keep abreast of rapid technological progress in the banking sector
Chile’s economy affected by commodities price shocks, says central bank governor
Commodity price shocks can 'be transmitted to the rest of the economy, even when countercyclical fiscal and monetary policies are in place', argues the Central Bank of Chile governor
Bank of Mexico’s Sánchez considers EM response to tighter Fed policy
Deputy governor says emerging markets will need to contend with the end of the ‘financial bonanza’ that surfaced in the wake of the crisis, and must consolidate
RBNZ’s Wheeler highlights the many unknowns of financial linkages
Governor says our understanding of the ‘empirical links’ of exchange rates and cross-border financial flows remains limited
Broadbent: Neutral real rates will stay low for ‘some time’
Bank of England deputy governor Ben Broadbent expects neutral real rates of interest to rise ‘eventually’, but expects them to remain low ‘for some time yet’
Paraguay’s central bank president calls for new powers
Carlos Fernández Valdovinos says the national law needs to be updated, in a manner that allows the regulator to adapt quickly in the face of emerging risks
Cœuré says payments innovation is a double-edged sword
ECB’s Benoît Cœuré says new innovations such as virtual currencies can reveal ‘inefficiencies’ in existing products or approaches, but ‘often imply financial or security risks’
RBA’s Lowe wants more market appetite for ‘real investments’
Deputy governor says key to returning growth and monetary policy to normality is persuading investors to create new assets rather than pumping up the prices of existing ones