Speech
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
Yellen ‘greatly’ concerned by inequality in US
Fed chair takes unusual step of addressing inequality in her speech at a Boston Fed conference; explores four ‘building blocks’ of economic opportunity
Mersch: Asset buying may widen income inequality
Non-standard measures ‘shouldn’t last too long’, according to ECB executive board member Yves Mersch, because they could ‘widen income inequality’
BoE’s Haldane sees UK economy ‘writhing in both agony and ecstasy’
Chief economist sees reasons to be both optimistic and pessimistic about the UK economy, but says on balance rates are likely to have to stay lower for longer than expected
Danièle Nouy: Fed facing similar data challenges as ECB
The supervisory board chair delivers concluding remarks to the ECB conference on statistics; notes similarities between approach of Fed and European authorities to data problems
BoE’s Weale posits method of overcoming uncertainty
MPC member says studying rates of change can help overcome uncertainty about spare capacity and the natural rate of interest when setting policy
Debelle surprised markets take central banks at their word
Reserve Bank of Australia assistant governor suggests markets are ‘underestimating’ the possibility that central banks will change course in response to ‘unexpected’ data
Eurozone AQR adds to Swedish uncertainty, says Ingves
Riksbank governor says conditions for monetary policy are ‘perhaps even more uncertain than usual' due to confluence of international and domestic factors
Kuwaiti governor argues for credit ratings regulator
Mohammed Al-Hashel says rather than reducing reliance on credit ratings, he would like to see an independent institution established to ensure high-quality ratings
Plosser wants Fed to follow ‘rule-like’ monetary policy
Philadelphia Fed president says constrained discretion has been shown to produce better policy-making, citing Nobel prize-winning research