samchain/econo-pairs-v2 huggingface dataset:
is improved significantly with the use of nickel - plated steel. the coins are also more resistant to discoloration, corrosion, and everyday wear and tear. mr. president, ladies and gentlemen, the bsp is honored to discharge its mandate to maintain currency integrity, to further promote public trust and confidence in philippine currency. we respectfully present these banknotes and coins. thank you. now, we have a short avp on the ngc coin series. 1 / 1 bis central bankers'speeches

it - and it - enabled services, to help us better capture the broad picture of current developments. our department of economic statistics has used these surveys to more effectively monitor our transactions with the rest of the world. this, in turn, has enabled the bangko sentral to assess current and prospective developments in both capital flows and exchange rate movement, as well as the country ’ s vulnerability to possible external shocks. on the other hand, universal and commercial banks remain our reliable partners in monitoring foreign exchange transactions, including remittances, that pass through their channels. finally, we also acknowledge our partners who provide valuable support to our various advocacy programs on financial literacy for microfinance entrepreneurs as well as overseas filipinos and their families. at the end of the day, our economy stands to benefit from our fruitful partnership – the same partnership that helps us keep the philippine financial system resilient in the midst of global financial turmoil and economic slowdown. let us therefore resolve to find new ways to enhance and strengthen our partnership so that together, we can further improve the quality of philippine statistics that provide the basis for national policies and programs. on behalf of the bangko sentral, i thank all of our respondents and stakeholders who have been our faithful partners through these years. all of you can rightfully claim that you have also served our people and our country by sharing your time and information with us. with your support, the bangko sentral will continue to craft and implement responsive monetary and banking policies. maraming salamat po and congratulations to all awardees! mabuhay ang pilipinas!
ardian fullani : the link between the legal system and financial markets speech by mr ardian fullani, governor of the bank of albania, at the banking law workshop, tirana, 17 november 2008. * * * dear everyone, the conviction that two monologues do not make a dialogue not only pushed me to study law after my economics studies but also to listen to and toss ideas with colleagues from different professions. i find it especially pleasing when i do this with lawyers, given that there is one particular person i talk to the most – my spouse. the dialogue between the banking market and the legal system has always been important to any country. nowadays, it has become extremely vital. for our country to continue sailing towards safe shores of economic development, financial stability and prosperity, i believe these two oars are required : judicial order and the financial market. dwelling briefly on the legislation issues, i would highlight that the economic activity is mutually dependent on the legal system at home. as one of the distinguished economists and academics, mr. mishkin, says – ” the legal system, which as you know, is not only composed of legislation and rule books, but also of the infrastructure of the civil courts and the market regulators, represents a fundamental determinant of economic growth, especially in connection to financial development ”. the link between law and finance is inextricable. the financial instruments do not operate in a vacuum. as long as they serve to people, they are based on legal relationships. a financial asset is ultimately a claim in the form of paper ( contract ) or electronic form ( account entry ). in any credit relationship, the possibility of default is always looming and this inherent complication cannot be solved without a precise system of norms that protects both the creditors and the debtors. as shakespeare ’ s merchant of venice reminds us, the legal system has to ensure that the debtor does not walk away from his obligation. at the same time, the lender cannot be too taxing for the debtor. hence, as anywhere else in life, the balance ( that is, the balance of justice ) should provide for the wellbeing of the financial system, which is based on these classical relationships, no matter how much modern they are. fundamentally, the legal system should ensure that contract and property rights are sufficiently clear, protected and predictable. in more concrete terms, the parties should not only be aware of these rights, but also exercise them freely and fully during the binding

– monetary policy, financial market resolution and strengthening, encouraging competition, the development of the national financial infrastructure, and raising quality and reducing costs of financial services for households and businesses. i would like to repeatedly thank the state duma for its cooperation with the bank of russia and massive efforts to improve financial market - related laws. this is a tangible contribution to strengthening our financial system, and its capability to foster economic growth and raise public well - being. thank you for your time. 7 / 7 bis central bankers'speeches
we share with germany : vigorous and fair competition and a stable financial system. indeed, in some sense it follows the lead of the european union and its member states in ensuring that all large subsidiaries of globally active banks meet basel capital rules. we believe that our foreign bank proposal, which would increase the strength and resiliency of the u. s. operations of these firms, would meaningfully reduce the likelihood of disruptive ring - fencing at the moment of crisis that could undermine an spoe resolution of a large foreign bank. we are fully committed to the international efforts to address crossborder resolution issues and to maintaining strong cooperation between home and host supervisors during normal and crisis periods. i will close by observing that the international effort to strengthen financial regulation cannot succeed unless each nation understands the goals and challenges faced by its partners. the federal reserve and the bundesbank have a long history. i believe there is a trust between us that is the basis for collaboration. i look forward to working with you to make the financial system safer and stronger. thank you. board of governors of the federal reserve system ( 2011 ), “ federal reserve board proposes steps to strengthen regulation and supervision of large bank holding companies and systemically important nonbank financial firms ”, press release, december 20. bis central bankers ’ speeches

as we have emphasised in the past, the bank does not have a profit - maximising objective and its operations are conducted in the broader interests of the country, in pursuit of its mandate and responsibilities. nevertheless, we will continue to implement strict internal financial controls to ensure economy and efficiency of the bank ’ s operations. bis central bankers ’ speeches
pan gongsheng : speech - launch ceremony of southbound bond connect speech by mr pan gongsheng, deputy governor of the people's bank of china, at the launch ceremony of southbound bond connect, 28 september 2021. * * * honorable deputy director deng zhonghua, chief executive carrie lam cheng yuetngor, financial secretary paul chan mo - po, deputy director yin zonghua, chief executive eddie yue wai - man, chairman chen siqing, distinguished guests, good morning! in 2017, the northbound trading under the mutual bond market access and connection scheme between the mainland and hong kong ( northbound bond connect ) was launched. since then, the scheme has been functioning smoothly and efficiently for four consecutive years, representing a milestone in the opening - up of china's financial market. built on the solid cooperation between the mainland and hong kong, upon approval of the central government, it is decided to launch the southbound bond connect, facilitating mainland institutions to go out and invest efficiently in hong kong and the global bond markets. this is another major step of the central government toward bolstering hong kong's development and deepening financial cooperation between the mainland and hong kong. here, entrusted by governor yi gang and cpc pbc committee secretary guo shuqing, and on behalf of the people's bank of china ( pbc ), i would like to extend warm congratulations on the launch of the southbound bond connect. china's experience in developing the financial market demonstrates that unswervingly expanding opening - up provides strong driving force and crucial guarantee for building a market - based, law - based, and internationalized financial market, and it is a key move toward enhancing the capabilities of the financial sector in serving the real economy and its international competitiveness. hong kong, as one of the major global financial centers, boasts a highly open business environment, a deep financial market, well - developed financial infrastructure, and an internationalized financial regulatory system, making it a key gateway and bridge for the mainland financial market's opening up. in the past years, we have been working closely with the hong kong monetary authority ( hkma ) and other relevant authorities to continuously optimize the northbound bond connect. on the basis of thorough evaluation, we jointly devised the southbound bond connect scheme. the official launch of the southbound bond connect today denotes that china's bond connect scheme now achieves two - way connectivity. it manifests the central 1 / 2 bis - central bankers'speeches government '

on this note, increased transparency of the process, as well as its recommendations, can be a way of allowing market to have a view and force the issue. i hope this has been useful. let me stop here and again i want to thank the imf for the invitation. thank you.
##s is continually shrinking. is switzerland therefore becoming a cashless society? even if the importance of cash does decline over time, it is unlikely that it will be completely replaced. its specific advantages suggest, rather, that it will continue to be used as a store of value and a means of payment. with well - established, flexible processes in banknote production and handling, the snb contributes to ensuring that cash continues to meet the public ’ s requirements at all times. bis central bankers ’ speeches

jean - pierre danthine : does cash have a future? summary of a speech by mr jean - pierre danthine, vice chairman of the governing board of the swiss national bank, at the assemblee generale de l ’ association des alumni hec, lausanne, 8 may 2014. * * * the complete speech can be found in german on the swiss national bank ’ s website : www. snb. ch. one of the traditional tasks of the swiss national bank ( snb ) is to provide the economy with banknotes and coins. since the establishment of the snb, banknotes have constituted the most visible link to the population. as an everyday article of use, but also symbolically, banknotes embody the quality, security and stability of the snb, and of switzerland in general, not least of all also for the rest of the world. it is therefore of key importance that the snb undertake the task of cash supply and distribution conscientiously. the role that banknotes play in the public ’ s trust in the institution and its decisions is not to be underestimated. in turn, this trust is an important prerequisite for the snb to be able to fulfil its core monetary policy mandate, and thereby ensure price stability. due to technological developments in the post - war period, the significance of cash declined, as measured in terms of economic performance. since the beginning of the 1990s, however, the demand for cash has hovered at a stable level, and since 2008, in the wake of the financial crisis, there has even been a marked increase. thus the technological advances of the last 25 years – especially the internet – have not significantly diminished the demand for cash. people still appreciate cash as a store of value and a means of payment. it is visible and tangible, which makes it especially valuable when there is uncertainty about the stability of banks. in addition, interest rates have been very low for some time now, and therefore the opportunity costs of holding cash are also low. however, the significance of cash as a payment instrument, too, remains unimpaired. in this regard, two essential characteristics stand out : as legal tender, cash is widely accepted and extremely reliable to use. nevertheless, technology is constantly moving forward in terms of new forms of electronic payment as well as in the area of digital forms of money. what is more, the share of the population which grew up without bank cards, the internet and mobile telephone
@ 15 % p. a. r51 r35 r10 r27 share of countries with public inflation targets for 2017 advanced economies 23 % emerging markets 77 % source : central bank news page 16 of 17 sa's inflation rank in the world ( imf data ) 100 % 90 % 80 % 70 % [ value ] 60 % 50 % 40 % 30 % 20 % 10 % [ value ] 0 % 2003 2005 2007 2009 2011 2013 2015 2017 share of countries with higher inflation share of countries with lower inflation sa percentage rank page 17 of 17

on average, of these 12 countries. ( brazil is first. ) south africa ranks eighth for growth and last for unemployment. since the most recent global financial crisis, south africa has once again had the second - highest inflation rate, after brazil, but its growth rank has slipped to ninth place. it remains last for unemployment. page 6 of 17 international monetary fund identifies 28 „ pure [UNK] inflation - targeting countries. 6 of these, 20 ( or 71 % ) are emerging markets. if we use a broader definition, more countries qualify. there are 64 countries with a published inflation target for 2017 ; 49 of these ( or 77 % ) are emerging markets. 7 furthermore, if anyone is having trouble hitting inflation targets, it is the advanced economies. most of the central banks in the major advanced economies are below their inflation targets and have been so for some time. by contrast, emerging markets are mostly on target or getting there. south african inflation, to take the most immediate example, fell back within the target range in april this year and is expected to stay there for the foreseeable future. the reason why emerging market central banks are doing better than their rich country peers is probably because we know more about lowering inflation than raising it – especially when interest rates are already at zero. my conclusion is therefore that inflation targeting is more of an emerging market practice than an advanced economy one – one that has been working better in emerging markets, too. should we be targeting something besides inflation? i know of no central banks that are employment targeters or growth targeters. there are good reasons for this. contemporary economic thinking and lots of experience indicates that monetary policies cannot do much about structural growth and employment problems. if you do not have enough skilled workers, the central bank cannot mint doctors and engineers. the thinking and experience also stresses that any trade - off between growth see sarwat j, march 2012, inflation targeting : holding the line, available at http : / / www. imf. org / external / pubs / ft / fandd / basics / target. htm. the data for 2017 inflation targets are drawn from http : / / www. centralbanknews. info / p / inflationtargets. html. page 7 of 17 and inflation, or unemployment and inflation, is short - term only. what you can do is stabilise inflation at the target and employment or growth at its sustainable rate. for this reason, even the central banks with multiple mandates tend to behave a
navigating the economy through the covid crisis speech given by dave ramsden, deputy governor for markets & banking the strand group, king ’ s business school 14 july 2021 with thanks to tom smith and michael yoganayagam for their assistance in preparing these remarks, and to numerous colleagues, including saba alam, andrew bailey, nick bate, max english, greg kidd, andrew hauser, maggie illingworth, sarah illingworth, sean maloney, alex rattan, andrea rosen, michael saunders, fergal shortall and silvana tenreyro, for their many helpful contributions. all speeches are available online at www. bankofengland. co. uk / news / speeches and @ boe _ pressoffice introduction it ’ s very good to be back speaking at this 51st strand group event and in my role as a visiting professor at king ’ s. this is the third strand group event i ’ ve spoken at but my first time speaking to you virtually. i ’ ve been involved in forecasting throughout my career, both in my current role as a monetary policy committee ( mpc ) member and in my previous civil service career at hm treasury. 1 outside of work i ’ m also a keen mountain walker – most recently being lucky enough to spend some time on the isle of skye – and it ’ s hard not to see parallels between the two activities. forecasts act as a map for policymakers of where the economy is heading, showing what adjustments to the current path are needed to avoid impending hazards and ensure they safely reach their policy objectives. 2 i should be clear at the outset, to borrow a well - worn quotation, that “ the map is not the territory ”. 3 the forecast summarises what is likely to happen on the journey, but it is the economy itself that we as monetary policy makers must navigate, using the forecast alongside many other inputs, including a wide range of data and intelligence from the bank ’ s network of agents. and as can sometimes happen when walking in the mountains, different mpc members can interpret the territory in different ways, supplementing the use of a map with the equivalent of a compass and gps as well as their own judgement. 4 the job of economic forecasting has become increasingly tricky over recent years, as the economic territory underfoot has become less and less familiar. the 2007 - 09 financial crisis was characterised by very large impacts on the supply side of the economy, as well as complex financial

a lot, i can ’ t understate that. effective boards are central to the success of firms and the financial sector, and central to the delivery of our objectives. thank you. bis central bankers ’ speeches
to the fsb advancing our progress and work in these areas. 1 1 the document is available at www. fsb. org / 2019 / 02 / fsb - work - programme - for - 2019 / 6 / 6 bis central bankers'speeches

hazard and the subsidy implicit in the federal safety net. i have spent a good deal of time of late on the fourth objective. therefore, today i will concentrate on the first three and how, in particular, financial reform must be careful to preserve the role of the state - chartered bank in meeting our economy ’ s macroeconomic objectives and our concerns regarding systemic risk. the importance of the state - chartered bank some erroneously dismiss state - chartered banks as representing only the down - scale end of the banking market and, therefore, being not particularly worthy of careful policy consideration. state - chartered banks indeed are smaller on average than national banks, and are disproportionately represented within the very smallest size class. nevertheless, state - chartered banks account for about a third of our superregionals, not to mention a few state banks that are among the very largest money center institutions. even the preponderance of small, state - chartered banks, however, play a critical role within our financial system, for several reasons. first, having large numbers of community - sized banks, be they state - chartered or national banks, is a major contribution to the stability of the banking system and the well - being of the macroeconomy. just as a more highly diversified loan portfolio reduces risk to the individual bank, a more highly diversified banking structure reduces risk to the banking system as a whole. indeed, our decentralized and diverse banking structure was arguably the key to weathering the financial crisis of the late 1980s. during those dark days, our system was able to absorb more than a thousand u. s. bank failures. and yet here we are, less than a decade later, with loan loss reserves and bank capital at their highest levels in almost a half century, and the insurance fund restored to its maximum coverage ratio - - all without cost to the taxpayer. of course, the bank failures of the past decade, combined with the current wave of mergers and acquisitions, have served to reduce significantly the total number of banking organizations in the u. s. but the more than 7, 000 separate banking companies that remain are more than sufficient to maintain our highly decentralized and flexible banking structure. large numbers of small banks go hand in hand with a macroeconomy characterized by large numbers of small, entrepreneurial nonfinancial businesses. smaller banks traditionally have been a major source of capital for small businesses that may not have access to securities markets. in turn, small businesses account for the
##vigorating global growth and employment. bis central bankers ’ speeches

mario draghi : euro area economic outlook, the ecb ’ s monetary policy and current policy challenges statement by mr mario draghi, president of the european central bank, prepared for the twenty - ninth meeting of the international monetary and financial committee, washington dc, 10 april 2014. * * * i would like to focus on the euro area economic outlook, the ecb ’ s monetary policy and current policy challenges. the recovery in the euro area is ongoing. euro area real gdp has now increased for three consecutive quarters and recent survey data are consistent with a continuation of this trend. looking ahead, a strengthening contribution from domestic demand should materialise, supported by our accommodative monetary policy stance, ongoing improvements in financing conditions working their way through to the real economy, and the progress made by euro area countries in terms of fiscal consolidation and structural reforms. in addition, real incomes are positively influenced by moderate commodity price developments, in particular lower energy prices. economic activity is also expected to benefit from a gradual strengthening of demand for euro area exports. at the same time, however, unemployment in the euro area remains high, even if labour markets have shown first signs of improvement, and, overall, unutilised capacity is sizeable. moreover, the necessary balance sheet adjustments in the public and private sectors will continue to weigh on the pace of the economic recovery. the risks surrounding the euro area economic outlook continue to be on the downside. they relate to geopolitical risks and an insufficient implementation of structural reforms in euro area countries as well as to developments in global financial markets and in emerging market economies. recent information remains consistent with our expectation of a prolonged period of low inflation that will be followed by a gradual upward movement in consumer prices ( hicp inflation rates ) during 2015 to reach levels closer to 2 % towards the end of 2016. the gradual decline in euro area inflation rates since last summer primarily reflects negative contributions from energy prices as well as a substantial fall in unprocessed food price inflation. at the same time, medium to long - term inflation expectations remain firmly anchored in line with our definition of price stability. both upside and downside risks to the outlook for price developments remain limited, and broadly balanced over the medium term. in this context, the possible repercussions of geopolitical risks and exchange rate developments will be monitored closely. the ecb ’ s monetary policy stance continues to be geared towards maintaining the degree of monetary accommodation warranted by the outlook for price