samchain/econo-pairs-v2 huggingface dataset:
, one thing is for sure : aging will change the canadian economic landscape. we have started to see the impact of this process and it will intensify. this will the topic of population aging in developed countries was brought to the attention of a broad audience by the first of many un studies in 1956 in “ the aging of populations and its economic and social implications, population studies ”, no. 26 ( united nations publication, sales no. 1956. xiii. 6 ). by 1982, the global relevance of the topic was acknowledged in the first world assembly on aging in vienna, and a call for action was put forward. see david dodge, “ past adjustments and future trends in the canadian economy, ” ( remarks to the london chamber of commerce, london, ontario, 8 december 2003 ) ; “ canada ’ s competitiveness : the importance of investing in skills ” ( remarks to the humber college institute of technology & advanced learning, toronto, ontario, 30 march 2005 ) ; “ demographics, labour input, and economic potential : implications for monetary policy ” ( remarks to the st. john ’ s board of trade, st. john ’ s, newfoundland and labrador, 13 june 2007 ). see also mark carney, “ the coming thaw ” ( remarks to the winnipeg chamber of commerce, winnipeg, manitoba, 4 february 2010 ) ; “ the virtue of productivity in a wicked world ” ( remarks to the ottawa economics association, ottawa, ontario, 24 march 2010 ) ; “ growth in the age of deleveraging ” ( remarks to the empire club of canada, toronto, ontario, 12 december 2011 ). bis central bankers ’ speeches have broad implications, including for monetary policy. this is what i would like to discuss today. current demographic situation let ’ s first quickly remind ourselves of the facts. when we think of population aging, we immediately think of the baby boomers who are just starting to retire. canada did indeed have the most sizable baby boom among the g - 7 countries, and it is certainly an important demographic phenomenon ( chart 2 ). but as someone who has come of age in the shadow of the baby boom, let me say this : baby boomers, this is not just about you. although the post - wwii baby boom is speeding up the transition toward an older population, it is neither the cause nor the main driver. the aging of canada ’ s population would have occurred, with or without the baby boom. there are two much more important and persistent drivers at

a priori grounds, the set of indicators which they routinely monitor. i thank you for your attention. i am now happy to answer your questions – that is, to the same extent as most central bankers would answer them.
2005, and further fell to 24. 3 % in september 2007. this is consistent with government ’ s desire of making more funds available for priority sectors of our economy at reasonable cost, in line with the objectives the fifth national development plan, 2006 - 2010. ladies and gentlemen, testimony to this was the recent lowering of the statutory reserve ratio by the bank of zambia to 8 % from 14 % effective 1st october 2007. we expect this action, will release more funds to the commercial banks for on - ward lending to the priority sectors. availability of investible funds to sectors such as agriculture, manufacturing, tourism and mining will stimulate further growth in the economy, create more employment and incomes, and contribute to alleviation of poverty. however, it must be noted that the economy desires much lower lending rates than so far recorded to make credit affordable and effectively contribute to expansion of economic activity. the external sector has continued to score remarkable improvement as lately reflected in a the resilience of the kwacha against major foreign currencies, and the country posting in 2006, an estimated overall balance of payments surplus of us $ 696 million compared with a deficit of us $ 284 million in 2005. for instance, the kwacha appreciated by 12. 0 % against the us dollar while the local currency gained by 10. 4 % against the south african rand during the period end - december 2006 to 21st september 2007. this improvement largely occurred due to increased export, which mainly arose from continued high copper prices and complimentary higher export volumes coupled with the buoyant growth in non - traditional export earnings. the maintenance of an appropriate monetary policy, in the wake of a higher than expected inflation outcome in the first quarter of the year, also contributed to the resilience of the kwacha. the developments in the kwacha should not only enhance competitiveness of the country ’ s exports, particularly the non - traditional exports but should overall have a positive bearing on inflation developments in the coming months. esteemed colleagues, the financial sector has continued to enjoy stability and growth this year, characterised by improved banking services and emergence of new products. the overall financial condition and performance of the banking sector has been assessed as satisfactory. the performance of the non - bank financial institutions has todate been fair as the bank of zambia continues to implement measures aimed at maintaining and enhancing the soundness of the financial system. chairperson ; when we met last year at fringilla in chisamba, i informed the participants

a way that would not compromise the low inflation objective. at this point, your excellency, distinguished ladies and gentlemen, allow me to humbly say once again that i am deeply honoured to be invited to address you on this occasion. i thank you for your attention.
“ structural reforms : learning the right lessons from the crisis ”, speech at the bank of latvia economic conference 2014, riga, 17 october 2014. 3 / 3 bis central bankers'speeches

time – just last week the world ’ s biggest stablecoin temporarily lost its peg to the dollar. and stablecoins do not benefit from deposit insurance, nor do they have access to central bank standing facilities. they are therefore vulnerable to runs [ 7 ], as we have just seen with the crash of another stablecoin – terrausd. the benefits of a digital euro the increasing popularity of non - cash payments and the expansion of crypto - assets reveal a growing demand for immediacy and digitalisation. if the “ official sector ” – central banks and supervised intermediaries – does not satisfy this demand, others will. for this reason, countries around the world are currently exploring the issuance of a central bank digital currency. [ 8 ] nine countries have now fully launched a digital currency and some large economies are quite advanced in their exploration, like china. digital money issued by the central bank would offer the possibility for everyone to use public money for digital payments. it would be a sound, reliable means of payment designed in the public interest. and it would preserve the coexistence of sovereign and private money that has served us well so far. in europe, issuing a digital euro would also allow us to protect our strategic autonomy while remaining open in a world where technology and dependencies are increasingly being weaponised. but the benefits of a digital euro would extend further than that. in particular, a digital euro would serve as an instrument to accompany the ongoing digital transition in payments. this transition is particularly visible here in ireland, where the financial landscape is undergoing drastic change, with some major incumbent banks withdrawing and fintechs making rapid inroads into the payments market. a digital euro would bring important benefits in this context. it would level the playing field by allowing intermediaries – including small ones, which are typically less able to keep pace with innovation – to offer more technologically advanced products at a competitive price. and it would enable innovative payment solutions to be quickly scaled up to cover the entire euro area. this would help narrow the gap with economies like that of the united states, where entrepreneurs can expand in a large market that is not fragmented along state lines, as it is in europe. finally, a digital euro would aim to offer a means of payment that is free, available for all digital payments, and accessible to everyone, everywhere. it would seek to support financial inclusion at a time when the vast reduction in the number of bank branches may be affecting vulnerable customers
ioannis papadakis : combatting the impact of the financial crisis welcome remarks by mr ioannis papadakis, deputy governor of the bank of greece, at the european bank coordination meeting, athens, 19 march 2010. * * * it is an honor and a pleasure to welcome you to athens for the european bank coordination meeting, hosted by the bank of greece and co - organized with the european commission, the imf and the ebrd. moreover, i am very pleased to be given the opportunity to share with you some preliminary thoughts on the achievements of our efforts to support imf programs in the region through concerted private sector involvement. the financial crisis that erupted in 2007 is now in its third incarnation. having started as a crisis affecting certain marginal financial markets in the us, it subsequently spread fast with its impact being felt on the financial and the real sectors of most economies in the world. in its current incarnation, it is turning into a fiscal crisis, as markets realize the true cost of the measures implemented to minimize the damages and the impact on the macroeconomy. in addition, the crisis has brought to the fore a number of weaknesses and deficiencies in the functioning of the international financial system, putting the effectiveness of the supervisory and regulatory framework under the microscope. the discussion regarding the origins of the crisis and the work that needs to be done has created a long list of “ do ’ s and don ’ ts ”. it has also led to an even more lively and lengthy discussion about the appropriate means to achieve the ultimate goal and the timing of the required measures. let me briefly mention five areas of action, which i believe deserve priority : first, there is need to deal effectively with short - termism in the quest for high profits, by protecting the system from the incentives created by excessive bonuses and the irrational pricing of risks. second, the transparency of financial markets and structures needs to be enhanced by putting greater emphasis on risk disclosure by systemically important institutions, instruments and markets. third, the pro - cyclicality of the financial system needs to be mitigated by improving both the quality and quantity of bank capital and by ensuring that banks create enough prudential liquidity buffers in good times to have reliable shock - absorbers on which to depend, if and when bad times come. fourth, there is a need for a macro - prudential approach to financial supervision that takes into account not only the links between financial behaviour, economic activity and macroeconomic

and, ultimately, the international financial system. i congratulate you all for your good efforts over the last year to bring about and safeguard stability in the countries involved. i thank you for participating in today ’ s meeting. the bank of greece as host owes a special thanks to the european commission, the imf and the ebrd for the help they have provided us in organizing today ’ s event. i wish you all a fruitful meeting and a pleasant stay in athens.
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a buildup of distressed assets as a result of the pandemic by selling banks ’ non - performing assets to asset management entities called financial institutions strategic transfer corporations. offloading these items from banks ’ financial statements will support the financial intermediary functions of banks and facilitate the circulation of liquidity within the system. the government financial institutions unified initiatives to distressed enterprises for economic recovery act ( guide ), on the other hand, legislates the provision of financial aid to critical industries that are affected by the pandemic. in addition, the bsp is advocating for the following measures : amendments to the agri - agra law, which will steer lending to agricultural, fisheries, and rural development in the philippines ; amendments to the credit information system act, which will improve accessibility of financial services to micro, small, and medium enterprises ; amendments to laws on secrecy of bank deposits, which will put more teeth to efforts against money laundering and tax evasion, and further promote integrity in governance ; and the financial consumer protection bill, which will better safeguard the interest of financial consumers, thereby promoting savings and investments. 2 / 4 bis central bankers'speeches reinforcing the country ’ s solid economic fundamentals with carefully crafted reforms is the best way to strengthen the economy ’ s prospects. speaking of prospects, we remain optimistic that when the dust has finally settled, the philippines ’ attractiveness as an investment destination will shine through. we will unceasingly pursue the build, build, build infrastructure program ( which presidential adviser vince dizon will elaborate on ). the bbb program is expected create a lot of jobs in the near term, generate economic activities in the countryside, and expand the productive capacity of the economy moving forward. besides these, we are equipping our economic sectors for the transition to the so - called “ new economy ” – an economy that is stronger, more technologically - savvy, and more inclusive. in the new economy, we shall harness the full growth potential of the economy. in the new economy, we shall also see a nation that is more technologically savvy. even prior to the pandemic, financial technology has already been at the forefront of bsp ’ s agenda. the bsp has put in place a “ test and learn ” environment or what we call the “ regulatory sandbox ” approach, which allows us and the fintech players to learn more about the operations as well as the risks that come with technology at its nascent phases
our ability in the efforts to the green the financial sector. 2 / 3 bis - central bankers'speeches of course, the new risks we are facing do not mean that the classic ones have just disappeared. the uncertain macro - financial environment, coupled with persistent geopolitical tensions continues to shape the outlook for the european banking sector. hopefully, the relaxed atmosphere we have created will contribute to open discussions. but before getting back to meetings tomorrow, please enjoy the evening and dinner in ljubljana together. thank you. 3 / 3 bis - central bankers'speeches

bostjan vasle : address - single supervisory mechanism ( ssm ) supervisory board's strategic retreat address by mr bostjan vasle, governor of bank of slovenia, at the official dinner of the single supervisory mechanism ( ssm ) supervisory board's strategic retreat, ljubljana, 10 october 2024. * * * members of the supervisory board, dear colleagues, ladies and gentlemen, good evening and welcome at the ljubljana castle. it is a great privilege and pleasure to welcome you here tonight for the supervisory board's strategic retreat. since banka slovenije is also hosting this year's external monetary policy meeting next week, slovenia will be the meeting place for both supervisory and monetary policy arms of the eurosystem in a short span of seven days. fittingly, this year also marks the 20th anniversary of slovenia's accession to the eu, a crucial milestone that allowed us to engage in the economic and monetary union and reap the rewards of our pan - european partnership. as many interesting – formal and informal – discussions will be taking place over the next days, let me seize this opportunity and briefly reflect on the events of recent years and challenges awaiting us in the future. a decade ago, we were navigating our way out of a major european banking crisis with dire consequences for the financial sectors and whole economies. this has also placed a heavy burden on the taxpayers. various forms of fiscal assistance to the financial sector increased the public debt in the euro area by almost 5 % of gdp, and in the most affected countries by 3 - 4 times more. in slovenia, where we have faced the deepest economic and banking crisis since independence, the fiscal burden was one of the biggest. the banking crises had farreaching consequences beyond the economic sphere and some of the legal processes still remain ongoing. with the need for better regulation and supervision of the euro area demonstrated clearly by these events, the idea of an eu's supranational bank supervisory body became a reality in 2014. this november we will commemorate the 10th anniversary of ssm and we appreciate the opportunity to acknowledge and celebrate this important occasion with you all tonight in ljubljana. by shifting from highly fragmented national banking supervision systems to a unified european approach, we greatly advanced the eu integration and also helped to strengthen the idea of the euro area. as a consequence of these developments today, the euro area banks are better positioned to absorb potential losses and weather adverse shocks then a decade ago. 1 / 3 bis -
huge budget ), as it has been suggested by former ecb president jean - claude trichet. but in any case, the institutional vacuum that currently exists must be filled in the long term. ladies and gentlemen, thank you for your attention. bis central bankers ’ speeches

has conducted a wide - ranging communication campaign, aiming to reach its audiences via multiple channels. this has given our stakeholders the necessary information about the banknote and its security features. but there is also another reason why banknotes are a fundamental part of what we do – one which is more significant for the euro area than for others. in a multi - country union such as ours, it is inevitably harder to create a shared identity than in a single nation state with its own culture and history. the euro is something we all have in common – it is a tangible symbol of european unity. holding a euro banknote and knowing that it can be used in 19 countries is a reminder of the deep integration europe has attained. indeed, when asked about the most important elements of european identity, the single currency is the one most frequently quoted by euro area citizens after democracy and freedom. and in spite of the difficulties in recent years, support for the single currency now stands at 70 %, equalling the highs recorded in the pre - crisis period. with the collaboration of the national central banks, credit institutions and banknote equipment manufacturers, hundreds of thousands of machines and devices have been updated during the last nine months, meaning that – starting today – the new €50 banknote is available. 1 / 1 bis central bankers'speeches
of institutional investors from the long - term and / or illiquid segment of the credit market could reduce private and social benefits of long - term investing, and reduce the extent to which the industry mitigates the procyclicality of the financial system. these possible evolutions will have to be closely monitored. thank you for your attention. bis central bankers ’ speeches

tightening of monetary policy globally, both the extent and pace, has been unprecedented. without doubt, the ecb's rate increases are being transmitted forcefully to euro area financing and monetary conditions. however, the lags and the strength of transmission to the real economy remain uncertain. slide 2 recent events in the financial markets have heightened uncertainty, which may influence the transmission of monetary policy in the euro area, too. however, the euro area banking sector is resilient. the banks have strong capital and liquidity positions, well above the minimum requirements, and far above the levels prevailing before the global financial crisis. but of course we must remain vigilant to identify risks. my final point is on communication and forward guidance. i draw from research suggesting that central banks should never tire of communicating their objectives and outlining the elements of their monetary policy reaction functions. for the bank of japan, the recent decision to do a broad - perspective review of monetary policy will provide an excellent opportunity for such communication. when it comes to the ecb governing council, our communication guidance reflects the prevailing uncertainty. since march we have been providing information on the critical elements that we monitor in determining our data - dependent approach on policy rate decisions going forward. these elements are, firstly, an assessment of the inflation outlook in the light of incoming economic and financial data ; secondly, the dynamics of underlying inflation ; and thirdly, the strength of our monetary policy transmission. in our monetary policy stance, we have recently reached a point where rates are in restrictive territory. in my view, it is essential that we see a steady and sustained decline in underlying inflation before we start considering easing the policy again. the governing council has already made it clear that we will continue to follow this data - dependent approach to determining the appropriate monetary policy stance. the journey is not over yet. on that note, i shall conclude my remarks. i would just – finally – like to express my thanks for this opportunity to share my views with such distinguished fellow panelists. i look forward to our discussion. 2 / 2 bis - central bankers'speeches
eli m remolona : welcome message - 2nd digital financial inclusion awards welcome message by mr eli m remolona, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), for the second digital financial inclusion awards ( dfia ) a€ “ awarding ceremony, manila, 24 october 2023. * * * citi philippines ceo paul favila ; chairperson of the microfinance council of the philippines gilbert maramba ; founder of card mri aries alip ; fellow members of the national selection committee ; advocates for digital financial inclusion ; our outstanding digital microentrepreneurs and microfinance institutions, special guests, good afternoon and welcome to the bangko sentral ng pilipinas. today, we honor five microfinance institutions and 20 microentrepreneurs under the second digital financial inclusion awards. they have embraced the transformative power of digital technologies to grow their operations and serve their clients. the digital solutions they adopted ranged from e - commerce, social media marketing, and use of ewallets. i can tell you, the national selection committee had a really tough time choosing the finalists. so rich was the pool of nominees. we applaud all the nominees for investing time and resources in digitalization. the bsp values this digital financial inclusion awards. it supports and promotes both microfinance institutions and microentrepreneurs who successfully adopted digitaiization to boost efficiencies and scale up customer services. their initiatives are aligned with the bsp's digital payments transformation roadmap and our national strategy for financial inclusion. under this roadmap, our goal is to convert 50 percent of the total volume of retail payments into digital form and to onboard 70 percent of filipino adults to the formal financial system. so how are we doing? well, the share of digital payment transactions reached 42 percent in 2022 ; account ownership was 56 percent in 2021 ; and 65 percent in 2022. we are gaining ground, but there is still so much more to do. ladies and gentlemen. microenterprises and microfinance improve the lives of so many filipinos, more so when they are digitalized. today's awardees prove this. they are good role models that inspire and inform. i therefore thank our partners from citi, from mcpi and the members of our national selection committee for supporting digital financial inclusion. to our awardees, we thank

and congratulate all of you for your well - deserved recognition. sana ay patuloy na mas dumami pa ang katulad ninyo na matagumpay sa larangan ng digital financial inclusion! 1 / 2 bis - central bankers'speeches maraming salamat at magandang hapon po sa ating lahat! 2 / 2 bis - central bankers'speeches