Speech
Liikanen calls for ‘precise’ communication at point of exit
Bank of Finland governor Erkki Liikanen emphasises the importance of central banks providing detailed and accurate communication as they approach the ‘turning point’ of monetary policy
ECB’s Mersch warns against excess liquidity policy becoming ‘permanent feature’
Executive board member Yves Mersch says it is now up to banks to make the most of the ‘favourable financing conditions’ created by the ECB
Reserve Bank of Australia deputy governor targets productivity boost
Philip Lowe says the country will need a ‘substantial increase’ in productivity growth if it is to replicate the rapid growth in real per capita income achieved in the past two decades
Bundesbank’s Dombret defends Germany’s current account surplus
Andreas Dombret says the strength of German households, businesses and public sector is a stabilising factor for the eurozone as a whole; calls for acceptance of the structural differences between economies
Chan laments lessons left unlearned from financial crisis
Hong Kong Monetary Authority chief executive Norman Chan says he will continue warning against excess levels of debt, even though it is now widely seen as part of the solution to the crisis
ECB's Cœuré says European institutions must be more accountable
The financial crisis has led European institutions to intrude more into member states' economic and fiscal policies, with 'redistributional consequences' - so democratic accountability is 'key'
Kuroda says Japan is on track to hit price target
Bank of Japan governor says the central bank’s QQE has brought about ‘positive developments’ that are spreading throughout financial markets and the real economy; sees inflation hitting 2% by 2015
Fed’s George backs ‘diversity of views’ in supervisory process
Kansas City Fed president Esther George says it is important that the interests of all stakeholders are reflected in a country’s supervisory structure
Draghi wants European public backstop for stress tests
ECB president Mario Draghi says both national and European public funds should be in place ahead of the comprehensive assessment to ensure it is a ‘credible exercise’
RBA 'open-minded’ to currency intervention
Reserve Bank of Australia governor Glenn Stevens says the central bank would consider intervening in the exchange rate, and insists it ‘remains part of the toolkit’
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
Banking union 'necessary but not sufficient' to fix EU lending, says EBA head
Andrea Enria says banking union is a 'game changer' but cannot fix lending across the single market on its own
Bank of Canada deputy discusses price divergence with US
John Murray says prices in Canada have been lower than those in the US for much of the past 30 years; notes the exchange rate 'seems to be driving prices in the two countries away from each other'
Caruana flags evidence of ‘manifold’ QE spillovers
BIS general manager presents evidence of varied spillovers from advanced economies' monetary policy; says policy-makers should do more to take them into account
Brazil’s Tombini says ‘we still do not fully understand’ macro-prudential tools
Governor of the Central Bank of Brazil warns that limited understanding of new policies presents ‘significant communication challenges’ for central banks
Ingves says Basel reforms must move ahead
Resolving issues around regulatory implementation will take time, Basel Committee chairman says, but he emphasises the ‘status quo cannot be maintained'
ECB's Mersch touts securitisation of SME loans as way of boosting EU economy
Executive board member says second priority after assessing banks' balance sheets is to support lending to SMEs by strengthening capital markets
Riksbank policy-makers differ 'fundamentally' on role of central bank, says deputy governor
Sveriges Riksbank deputy says policy approach is marginally beneficial at best and risks undermining 'public confidence' in central bank's targeting of inflation
Bank of Spain deputy on what banking union will mean for national lenders
Spanish banking system will not face more complex challenges than those posed in other jurisdictions, says Fernando Restroy; capital levels for sector as a whole will be above 10% by year's end
SEE region must face financial challenges together, says Macedonia deputy
Macedonia's financial system, like others in the region, has suffered thanks to international regulation leading local subsidiaries of European banks to deleverage in southeast Europe
Norges Bank deputy discusses institutional underpinnings of central bank activities
Jan Qvigstad highlights the importance of institutions in facilitating payments in an era when money lacks intrinsic value; chides Argentinian government for meddling with statistics
Finnish deputy outlines credibility triad
Pentti Hakkarainen says a central bank’s financial position, legal independence and communications all influence the credibility, and therefore efficacy, of its monetary policy
ECB's Asmussen defends 'unorthodox measures' in pursuit of 'orthodox objectives'
Executive board member highlights distinction between policy goals and instruments; says LTROs, OMTs and forward guidance crucial to ensure monetary transmission and hit inflation target
Mersch tells Greece not to forget future generations
Executive board member praises country for its ‘extraordinary efforts to refute the naysayers’, but warns hesitation now will force future generations to bear the burden of past mistakes