Speech
Nowotny calls on IMF to help address global spillovers
IMF surveillance function should be further developed to help overcome negative spillovers in an increasingly inter-connected world, Austria governor says
ECB ‘obliged' to introduce OMT to defend price stability, Draghi tells Bundesbank
ECB president Mario Draghi tells a Bundesbank symposium in Frankfurt that OMTs build on the doctrine adhered to by the German central bank for several decades
Permanent drop in UK risk-free rate suggests lower interest rates the 'new normal'
Bank of England's David Miles says lower returns on safe assets prompted by changed risk perceptions will keep bank's benchmark rate below historic average
Weidmann says macro-prudential instruments should be a ‘political top priority’
Bundesbank president says macro-prudential instruments should be prepared urgently; points out flaws in attaching greater importance to the financial sector when setting monetary policy
Ingves: Basel Committee still has ‘quite a bit of work to do’ on leverage ratio
Stefan Ingves tells banking supervisors in Asia-Pacific there is plenty of work left to do before the Basel Committee will be able to settle on the final calibration of the leverage ratio
Mersch cautiously optimistic on RMB internationalisation
Renminbi internationalisation could bring benefits both to China and outsiders, ECB board member says, if Chinese reforms continue and investors take care
Financial market fragility might be down to 'poor policies', says Lacker
Stylised and abstract economic models used to 'justify' Fed intervention during the financial crisis may not have received enough discussion, Richmond Fed president argues
Prasarn says Thailand still unsure of CCP viability
Thai governor says emerging markets need more time to assess whether creating central counterparties would bring the ‘intended benefits’ without ‘undue consequences’
Fed's Bullard wants more research into what drives labour market participation
St Louis Fed president concludes the existing literature suggests demographics are behind most of the decline in participation, but calls for more detailed work on household participation decisions
Flug fears advanced economies will leave Israel behind
Bank of Israel governor notes gap between GDP per capita in Israel and US was close to 50% in 2011 and is expected to remain 'more or less the same' – a 'clearly troubling picture'
Linde says reforms should focus on ‘twin engines of growth’
Bank of Spain governor says reforms are needed to mitigate the country’s ageing population and boost productivity
ECB's Praet defends ‘innovative' OMTs
Redenomination risk premia, as faced by the ECB in the eurozone crisis, was a new challenge for central banks that needed a new solution: outright monetary transactions
Weidmann argues in Karlsruhe for strict monetary policy rules
Bundesbank president argues for legal strict limits to central banks' flexibility, saying such rules are particularly important to the functioning of European monetary union
RBA assistant governor says weaker Aussie dollar 'not surprising'
Transition of Australia's mining boom from 'investment to production phase' helps explain the currency's depreciation, says assistant governor Christopher Kent
Cœuré defends Troika to European Parliament
ECB’s top negotiator with European Parliament defends the adjustment programmes shaped by the Troika and tells politicians not to ‘blame the fire brigade for the fire damage’
Rajan looks to mobile banking for financial inclusion
Reserve Bank of India governor says that India is not ‘where it should be’ on mobile payments and calls on telecom firms to help drive the proliferation of cheap and safe payments
Banking union can create sustainable financial integration in eurozone, Draghi says
Speaking at the 20th anniversary of the establishment of the European Monetary Institute, the forerunner to the ECB, Mario Draghi says banking union can strengthen financial integration
ECB monetary policy is feeding through to real economy, says Mersch
Executive board member also underscores importance of cleaning up banks' balance sheets and 'encouraging alternative funding sources', as low interest rates 'cannot raise growth on a structural basis'
Visco calls for ‘rapid’ SRM agreement
Bank of Italy governor Ignazio Visco urges the European Parliament and Council for the EU to find a common ground on the SRM; argues for single resolution fund to be fast-tracked
NY Fed research head calls for data innovation
James McAndrews encourages an audience of central bankers to find novel uses for existing data sets as well as collecting new ones
‘Normal' Norway has no need of forward guidance, says monetary policy chief
Head of Norges Bank's monetary policy division says interest rate forecasts are all the forward guidance his country needs, as the crisis did not hit Norway to the same extent
Eurozone crisis countries had to grasp the nettle of reform, says Cœuré
Delaying reforms until countries had emerged from the crisis would have been counterproductive, ECB board member says; effect of zero lower bound has been overstated, too
Sint Maarten and Curaçao monetary union needs 'less political wisdom', more co-ordinated action
Emsley Tromp, president of the countries' shared central bank says monetary policy is helping to shrink persistent current account deficits but argues more co-ordinated action 'imperative'
Liikanen says 'Barnier rule' will allow for international regulatory convergence
Finland governor whose recommendations formed the basis of European bank reform notes that commissioner Barnier's proposals are closer to the 'Volcker rule'