Official Record
RBA report reveals changing pattern of card use
Australians are increasingly favouring debit over credit cards for payments but both have been increasing in volume and value
Mexican board split on July rate decision
Minutes from the July 30 board meeting show three board members voted to hold the key rate at 3%, with one member favouring a 25bp hike and another absent
Bangladesh Bank will oversee creation of $500 million fund
World Bank and Bangladesh Bank putting up the money to finance longer-term projects in the economy, with some cash ring-fenced for ‘greening initiatives’
Stevens says RBA is working to ‘assess and contain’ housing risks
Statement following decision to hold rates notes house prices rising ‘strongly’ in Sydney, although growth is uneven between regions; other assets also buoyed by low rate environment
Israel grapples with high house prices and low inflation
Monetary policy report flags concerns by committee members that low interest rates may be fuelling high and rising house prices, but overall the risks to inflation are seen as more severe
Moroccan governor calls for ‘shock therapy’ in education
Abdellatif Jouahri warns there is a ‘worrisome’ gap between ambitions and tangible achievements in the field of education and training, in central bank’s annual report for 2014
EBA data shines light on systemic banks
Latest figures on European systemic banks highlight the many different ways in which institutions can have a systemic impact
Cypriot governor warns of challenge posed by NPLs
Chrystalla Georghadji says the high level of non-performing loans is ‘perhaps the greatest challenge’ facing the banking sector, adding the central bank is ready to focus on dealing with them
ECB bulletin: Too early to tell if inflation has turned a corner
Inflation in the eurozone appears to be moving upwards, but strip away transitory factors and the picture becomes much more blurry
Philippines central bank expects to hit inflation target
Latest forecasts suggest inflation will return to the lower half of the target range this year, while the risks to the outlook are ‘broadly balanced’
BoE MPC moving towards rate hike, minutes hint
MPC voted unanimously for a rate hold, but ‘a number of members’ believe risks to inflation are becoming ‘skewed to the upside’; appreciation of sterling and global shocks could still delay hike
Fed beige book points to areas of optimism
Most districts report economic activity as expanding at a ‘modest’ or ‘moderate’ pace, while many contacts indicate ‘optimism’ about future growth
Riksbank minutes reveal concerns over negative rates
Deputy governor voted against rate cut amid fears of unintended consequences, and others admitted the cut would send the Swedish economy deeper into uncharted territory
Kuwaiti banks perform well under stress, report shows
Banks in Kuwait showed resilience during stress tests and strengthened their balance sheets in 2014, financial stability report shows; conventional banks more cost-efficient than Islamic
ECB survey shows further recovery in bank credit in Q2
European Central Bank publishes latest bank lending survey, which reveals an increase in the share of banks reporting greater demand for loans to enterprises in the eurozone
Armenian annual report highlights growing European ties
Central Bank of Armenia strikes loan agreement worth €50 million with European Investment Bank and will use the money to fund SME projects
BoE FPC wary of buy-to-let risks
Financial policy committee asks bank staff to identify channels through which the market threatens stability; UK government caps tax relief on buy-to-let property
Sama publishes first financial stability report
Report indicates Saudi financial system is coping well, despite the 2014 oil price shock and continued geopolitical instability in the region; past year saw ‘significant’ regulatory change
Czech board expects strong growth showing
Board members at the Czech National Bank caught off guard by strong growth in first quarter, minutes show, but expect stronger-than-forecasted growth for rest of year
Solomon Islands increases flexibility of currency
Annual report reveals Central Bank of Solomon Islands scrapped its policy of restricting the movement of its currency against the US dollar on any given day, but retained peg against basket
Minutes show ECB happy to ‘look through’ volatility
Governing council carefully considered market volatility including the increase in government bond yields in June meeting, concluding it had not ‘materially altered’ economic outlook
Bank of Korea annual report sheds light on organisational shake-up
Central bank expanded research functions, improved communications, and established a ‘task force’ to examine the effectiveness of internal management in 2014
Danish central bank urges government to 'rein in' economy
National Bank of Denmark recommends countercyclical fiscal policy, including reformed housing taxes, as private sector growth has become strong enough to create risks
National Bank of Denmark warns fierce competition may damage lending standards
Financial stability report urges banks to build buffers and not cut corners despite the highly competitive, low interest rate environment