Official Record
Central Bank of Ireland highlights tight credit conditions for SMEs
Economic letter shows rejection rate for small and medium-sized enterprises in Ireland is second highest in eurozone; identifies slight improvement since Q4 2011
RBI minutes show disagreement over policy direction
Minutes of the Reserve Bank of India’s July meeting reveal divergent views on monetary policy; however members agree government is best placed to address weak growth and high inflation
BoE weighs distributional effects of QE
Paper assesses impact of quantitative easing on overall economy and examines distributional effects; finds main benefits for holders of assets and well-funded pension schemes
RBA minutes show bond yields at “historic low”
Reserve Bank of Australia’s August monetary policy minutes note historically low bond yields; offshore purchases of Australian dollar remain high
Bank of Lithuania clamps down on credit unions
The Bank of Lithuania has introduced tougher prudential requirements for credit unions as it seeks to safeguard the interests of depositors
Bank of Canada estimates measurement bias in CPI
Article assesses degree of bias in the consumer prices index; suggests more frequent updating of goods basket would allow for more accurate measurement
Central Bank of Barbados notes strong but static banking sector
Financial stability update shows domestic banking system has sufficient capital to withstand significant losses; says overall credit to private sector remained flat in past year
Central Bank of Colombia minutes reveal divide over interest rates
Minutes from the central bank board’s July meeting gives details of reasons for members’ difference of opinion over interest rate decision; board committed to maximising employment
BoJ minutes reveal cautious positivity about global risks
Minutes of Bank of Japan’s July monetary policy meeting shows some optimism over global risks; members vote unanimously to hold rates and adjust asset purchases
Central Bank of Tunisia report explores impact of revolution
Annual report for 2011 reveals a sharp drop in production and exports post-revolution; economic growth fell to -1.8%, says central bank
National Bank of Rwanda highlights stable financial system
Financial stability report says Rwandan banks are well capitalised and have achieved increases in profitability since 2009; warns of high level of non-performing loans and external risks
Reserve Bank of Fiji annual report highlights steady recovery
Annual report for 2011 reviews policy challenges throughout year; says central bank delivered on mandate of low inflation and stable reserves while helping to spur growth
Croatian National Bank identifies increasing risks to financial stability
Financial stability report says contagion from eurozone, deleveraging by European banks or collapse of confidence in fiscal sustainability could push Croatia into deeper recession
National Bank of Hungary divided over policy stance
Minutes of the National Bank of Hungary’s July monetary policy meeting show disagreement among council members over rate decision; vote split 5:2 in favour of hold
Bank of Israel report warns of further downward revision to growth
Monetary policy report for first half of 2012 shows continuation of moderate growth but says if current indications of a slowdown do not change, the forecast will have to be revised down
Irish financial accounts highlight increase in government liabilities
Quarterly financial accounts for Ireland show levels of government liabilities rising to historic peak; household debt declines slightly over the quarter
Central Bank of Ireland paper outlines changes to country’s European funding
Quarterly bulletin examines Ireland’s reliance on funding from Europe; highlights a decline in borrowing from Europe and an increase in Target2 liabilities
Bank of Israel warns of ‘lack of clarity’ in government fiscal policy
Report assesses domestic and external economic conditions affecting the Bank of Israel’s interest rate decision; low CPI, weak shekel and fiscal policy uncertainty contribute to rate hold
Bank of Japan economic survey finds slight reduction in pessimism
Quarterly survey of public opinion about Japanese economy finds reduction in respondents expecting economy to worsen; only small proportion of respondents anticipate improvement in conditions
Central Bank of Ireland positive in quarterly bulletin
Quarterly bulletin suggests Irish growth is being held back by negative external developments; however, domestic indicators show signs of strength
BoE statistics indicate slight improvements in UK lending
Lending statistics show decline in lending to UK businesses lessens slightly while loans to individuals increase; overall M4 lending shows slight increase
Bank of Israel annual survey reports increased banking system risk
Annual survey of Israeli banking system says risk increased during 2011; outlines regulatory changes made to address the problem
Bank of Italy’s economic overview paints bleak picture
Italian statistics show worsening of main economic indicators in first quarter of 2012; however government bond yields below levels at end of 2011
Bank of Israel paper underlines importance of fiscal discipline
Research paper compares policy responses to two crises; finds weak fiscal discipline prior to crisis can create significant problems for use of counter-cyclical fiscal and monetary policy