Australia
FSB warns of ‘increasing signs of complacency' in financial markets
Concerns about the mispricing of liquidity risks are also raised at plenary meeting in Cairns this week, but ‘core of financial system continues to strengthen'
China could learn from Australia's financial reform, RBA paper finds
Discussion paper published by the Reserve Bank of Australia examines the country’s capital account liberalisation in the 19070s and 1908s, and considers its relevance for China
RBA governor says bank's ‘boring' monetary policy stance a success
Glenn Stevens notes external ‘search for yield' is bidding up real asset prices in Australia; most observers expect interest rates to remain low ‘for some time yet'
Norges Bank paper finds ‘booming' resource sector has ‘significant' productivity spillovers
Working paper also finds evidence of two-speed economies, with non-traded industries growing at a faster pace than traded
Australian payments council established with support of central bank
New payments council features members from 14 organisations across the payments industry – including the central bank – and was set up on basis of RBA recommendations
Glenn Stevens calls on ‘animal spirits’ to drive Australian economy
Governor of the Reserve Bank of Australia calls on businesses large and small to invest in new areas outside of the mining sector, suggesting that monetary policy has done its bit for the economy
RBA does not see inflation pick-up as threat to target
Minutes from latest board meeting show RBA staff expect inflation to remain ‘consistent’ with target despite annual CPI inflation hitting 3% in June
RBA appoints John Simon research head; UK Payments Council names interim CEO
Reserve Bank of Australia promotes John Simon to head of economic research department; Payments Council says Maurice Cleaves will start as interim CEO in November
US and Europe more vital for Australian trade than thought
Australian goods being exported to western markets indirectly via east Asia, skewing statistics, according to paper using ‘complementary' estimates of value-added trade
RBA deputy hints at renminbi clearing bank and RQFII quota
Philip Lowe reveals that Australia should get a designated clearing bank ‘in the coming months’ and hopes to obtain a quota for investment in mainland China shortly after
RBA governor questions impact of QE on risk-taking in real economy
Glenn Stevens says it is ‘hard to read’ whether the effects of QE are filtering through to the real economy; business capital spending remains low in many major economies
RBA sees subdued wage growth ‘for some time’
Minutes from latest board meeting reveal discussion on labour market; board members say conditions have improved ‘a little’ but wage growth remains ‘subdued’
Australians might be better off renting, paper finds
If people expect house price growth to slow relative to the past 60 years, they might be better off renting, according to a paper published by the Reserve Bank of Australia
Glenn Stevens lifts veil on RBA comms strategy
Reserve Bank of Australia governor Glenn Stevens says guidance on the future path of interest rates has ‘served its purpose’ and tells markets what to look for next
RBA likely to keep policy on hold
Reserve Bank of Australia board expects to keep its cash rate on hold at 2.5% for ‘some time yet’ as inflation remains within the central bank’s target
Australian sovereign wealth fund appoints new head
Chief investment officer David Neal picked to head up the management company behind Australia's $90 billion Future Fund
Central bank holdings of Australian dollars may be levelling off, says RBA's Debelle
RBA deputy governor Guy Debelle says the majority of sovereign asset managers diversified into Australian dollars by 2012, so overseas holdings of sovereign debt may soon plateau
RBA says low rates appropriate for 'some time yet'
The Reserve Bank of Australia sees evidence of the effects of 'substantial' monetary stimulus, but also says economy continues to face 'significant headwinds'
RBA’s Debelle sees mixed future for bond markets
Guy Debelle says corporate bond issuance will remain ‘subdued’ in the near term as large Australian companies have ‘accumulated significant cash balances’
RBA reveals details of ‘next generation’ banknote project
Quarterly bulletin gives insights into plans for the first Australian banknote change in 20 years, including new print methods, security features, stakeholder engagement and logistics
Weaker currency boosts Australian growth, study shows
A 10% drop in the value of the Australian dollar would boost economic growth in the country by 1% after a couple of years, RBA paper finds
Lowe airs concerns about ageing population
RBA deputy says Australian population could become ‘inherently more risk averse’ as it ages, which could make it harder for the economy to generate productivity growth
Australia, Korea strike $5 billion swap deal
Glenn Stevens and Choong Soo Kim sign the countries’ first swap arrangement on the sidelines of the G-20 meeting as they look to promote bilateral trade
IMF sees ‘limited scope’ for RBA rate cuts
Article IV staff report says Reserve Bank of Australia’s accommodative monetary policy is ‘broadly appropriate’ but warns the central bank could struggle to offset further shocks