samchain/econo-pairs-v2 huggingface dataset:
basis points since december, including the 50 - basis - point reduction announced on 22 april, the timing of any further monetary stimulus will depend on the evolution of the global economy and domestic demand, and their impact on inflation in canada.

as new data are published and new information comes to light, differences of opinion tend to become less pronounced. whatever shape the deliberations take, i can assure you that everyone around the table is always very conscious of the weight of these decisions. i fully felt this weight myself in june 2023 when i participated in my second round of monetary policy deliberations. in the year before my arrival, the bank had decisively and forcefully raised the interest rate from 0. 25 % to 4. 5 % to combat the spike in inflation. at the beginning of 2023, the bank indicated it would pause to evaluate the effects of the increases on the economy and inflation. but data released between april and june 2023 showed that the economy had been more robust than expected in the first quarter of the year and that inflation had even increased slightly. given the situation, we reached the conclusion that we had to again raise the interest rate. but at the end of our friday afternoon meeting, the governor said, " let's take the weekend and sleep on this decision and come back on monday with clearer heads to discuss again. " 5 / 7 bis - central bankers'speeches over the course of that weekend, i came to fully feel the weight of the responsibility that came with my new role. i'd had countless discussions about monetary policy with colleagues and students over the course of my career as an academic. but as deputy governor, i found the discussions were no longer abstract or theoretical. i came to understand that i was one of six people whose decision would directly impact borrowing costs for millions of people like you and for businesses like yours. believe me when i say that the realization made my head spin a little ; it was really quite humbling. communicating the decision one thing that may surprise you - as it did me - is that governing council's work does not end once the decision is made. communicating the reasons that led to the decision is almost as important as the decision itself. the members of governing council work closely with the bank's communications team to develop key messages and draft the press release and opening statement for the press conference. if only you knew how much time we spend trying to find the best ways to convey our message and looking for just the right words - in both official languages. with time, i've come to understand that this is not always an easy task. for example, at the july decision, we said downside risks to inflation were becoming increasingly important in our del
taken action to ensure monetary and financial stability and that the financial system operates in the best interests of the community. we will continue to do so. derville, ed and i would be happy to take your questions. 1 as at end june 2020 3 / 3 bis central bankers'speeches

gdp, of the order of 1. 6 % and 3. 4 % respectively. these figures could be higher by about 2 percentage points if a trade deal is agreed between the eu and the uk before the end of the transition period. we see unemployment increasing to 8 % in 2021 before declining slightly to 7. 5 % in 2022. the latest restrictions announced by the government on monday evening clearly have negative implications for individuals, households and businesses across the country and for their incomes, their consumption patterns and their investment plans. ultimately, solving the economic crisis will be dependent on our ability to manage the health crisis as a healthy economy needs a healthy workforce, healthy consumers and a healthy community. from what we know so far, under the latest level 5 measures more sectors will remain open as compared to the april / may period since when consumers and businesses have adapted to operating with restrictions. the decline in domestic demand that we forecast for 2020 is likely to be larger than what we published in our quarterly bulletin two weeks ago but, on the assumption that the latest 1 / 3 bis central bankers'speeches measures will be time - limited and that consumers and businesses continue to adapt, our forecast is for activity to also continue to recover gradually during next year, although domesticfocussed economic activity remains unlikely to return to its pre - pandemic levels before 2022. payment breaks the economic shock has left many business and personal borrowers facing difficulties in meeting their repayment obligations. we recognise that that this is a worrying time as we move to level 5 and it is important to explain what is being done to support borrowers affected by the pandemic. at the onset of the crisis, lenders across europe offered loan repayment breaks to all borrowers whose incomes had been affected by the pandemic. this system - wide response, undertaken without individual credit assessments, provided relief regardless of whether the income shock was short - term or potentially more permanent. by early october, there were just under 54, 000 active payment breaks associated with irish household and business borrowers. 40 % of active payment breaks for irish borrowers relate to mortgages, representing 3. 4 % ( or 21, 322 ) of outstanding irish mortgages. active payment breaks for irish borrowers have reduced by 65 % since the end of june ( or a reduction of over 98, 000 ), as borrowers start to return to repayment arrangements. unfortunately, there will be borrowers who cannot return to full repayments and they will require
you for your time! page 9 of 9

services, to spur activity in accounts. secondly, we have a clear priority to ensure that a gender - segregated target for account usage is incorporated as well. i am confident that we can meet all of the targets, based on the progress i have seen so far. by reaching these targets, we hope to create at least 3 million new jobs, and additional exports of us $ 5. 5 billion. the government ’ s ownership in nfis can also be determined by the fact that an nfis transformation office will be established in the pm office : a. to ensure 100 % digitalization of govt. payments, along with providing necessary technical services to provincial government, so they can possess or identify the pool of expertise in this regard. b. to act as trouble - shooter in resolving implementation agencies issues. page 8 of 9 second cross cutting theme is islamic finance. islamic banking industry now accounts for 13. 6 percent of the country ’ s overall banking system in terms of assets while in terms of deposits the share is 14. 7 percent ( as of september 30, 2018 ). the focus on islamic banking is not only a question of faith but an important plank to increase the savings rate. in a survey undertaken in 2015 over 78 % of these surveyed had stated that if they have access to islamic banking they will use islamic banking. this is the vast segment of the populace that we want to tap by promoting islamic banking. today we have one of the most robust shariah governance framework in the world in place that is regularly revised to address the needs of this evolving and dynamic industry. to address the needs of faith sensitive clients shariah compliant alternatives of existing refinance schemes have been introduced. our policies aim at not only providing a level playing field for the islamic banks but also facilitate them. why are these initiatives important? because growth in agriculture, sme and low cost housing can be a catalyst for the growth in the economy in a short period. furthermore, growth in these areas would not be a burden on the current account and hence would not only be sustainable but also generate employment. having highlighted the steps taken by the state bank of pakistan to further the agenda of sustainable and inclusive economic growth in the country. furthermore, the central bank fully supports the agenda of the business community and is always open for discussion and support. i remain very much confident that the new policies and programs being ushered in would prove conducive to our economy and bring about improvements in our economic development. thank
up our internal capabilities and human resources, and actively consult the industry participants in our efforts to meet the challenges in the coming year.

driver of inflation : the balance between supply and demand in the canadian economy. monetary policy affects the economy primarily through its influence on demand. low interest rates encourage demand by making it less expensive to borrow and spend, while high interest rates encourage people to save, thus reducing demand. to ensure inflation stays sustainably at 2 %, monetary policy needs to keep demand in line with supply. but as the economy rebounded from the pandemic, supply and demand fell out of balance. restrictions had eased, and canadians wanted to do all the things they had missed during the pandemic, like going out to restaurants or travelling. at the same time, many services businesses were struggling to fully reopen. they couldn ’ t hire enough workers or get all the equipment and materials they needed. by early 2022, demand was growing much faster than supply. there was too much — or excess — demand in the canadian economy. there are various ways of assessing imbalances between supply and demand. 8 but for the purposes of my speech today, i ’ ll focus on the ratio of job vacancies to unemployed workers. like other measures, it was signalling significant excess demand during the post - pandemic period ( chart 2 ). 9 8 the output gap is another commonly used way of measuring imbalances between supply and demand in the economy. it was also signalling significant excess demand. for a third example, see m. - a. gosselin and t. taskin, “ what can earnings calls tell us about the output gap and inflation in canada? ” bank of canada staff discussion paper no. 2023 - 13 ( june 2023 ). 9 a key advantage of the vacancy - to - unemployment ratio is that vacancies are a direct measure of labour demand. however, the vacancy - to - unemployment ratio may have somewhat overstated the extent of excess demand during this period. see, for instance, h. afrouzi, a. blanco, a. drenik and e. hurst, “ a theory of how workers keep up with inflation, ” university of texas at austin working paper ( november 2024 ). job vacancies — which measure the demand for labour — surged to a record high in 2022. at the same time, the unemployment rate fell to the lowest level on record, meaning that the supply of workers available to fill those job openings was limited. it ’ s clear that the canadian economy was overheating — the porridge was
indonesia

first half of 2015 has posted a non - annualized upswing growth of 7. 96 % and therefore, global islamic banking assets growth in 2015 is expected to once again sustain its double - digit rate. 7. however, subdue global macroeconomic outlook poses considerable risks to global banking sector performance in general. similar with the performance of islamic banking sector, the global sukuk market also experience a slowdown after reached record years for global sukuk issuances in 2012 and 2013. in 2014 the sukuk market slowed down to just over usd100 billion issuances, and the downward trend continue to 2015 where the issuance slides 43 % to just around usd60 billion. 8. the development of islamic commercial finance in indonesia has similar down trend as the development of global islamic commercial, especially in 2012 - 2015, where the growth of islamic banking reached its lowest of 8. 8 % annually in 2015, compare to 9. 2 % annually of its conventional counterpart. however, by july 2016, the growth of islamic banking has rebounded to reach 12. 0 % y. o. y, while its conventional counterpart still showed down trend to reach 7. 2 % y. o. y. meanwhile, the share of islamic banking has been stagnant at 4. 8 %. 9. nevertheless, islamic banking in indonesia is claimed to be the biggest retail islamic banking in the world with more than 18 million customers and more than 4. 500 branches in 2015. 10. the development of sukuk in indonesia showed a slight down trend for corporate sukuk in 2009 - 2014 and for government sukuk in 20112014. however, the growth of sukuk has rebounded to 39. 4 % in 2015 and 29. 8 % by july 2016 for corporate sukuk, as well as 39. 7 % in 2015 and 36. 28 % by july 2016 for government sukuk. the share of sukuk by july 2016 has reached 3. 8 % for corporate sukuk and 15. 6 % for government sukuk. 11. the islamic social finance sector comprises zakat, awqaf and nonprofit microfinance institutions. although development around islamic social finance sector is not globally well documented, countries data indicates promising potential. research by the islamic research and training institute of idb ( irti - idb ) shed some light for the development of global islamic social finance. 12. it is estimated that the potential zakat collection in
declined substantially from the end of february through the middle of march and have generally remained steady thereafter. this reflects the bank of japan ’ s ample provision of funds through contracts that mature after the fiscal year - end as well as the progress in implementing the financial - system stabilization measures. it should be noted, however, that the levels of the above rates and premium are still high compared with those prevailing before autumn 1997, which can be attributed to the continuing cautious attitudes of market participants toward credit risk. meanwhile, with the releases of weak economic indicators, long - term government bond yields have fluctuated in a historically low range and stock prices have been declining since the end of march. with respect to monetary aggregates, the growth in money stock continued to be rather high in february due to the substantial shift of funds away from investment trusts. meanwhile, private bank lending remains sluggish. however, with an increase in corporate financing via the capital market, a substantial fall in overall corporate fund - raising seems to have been avoided. banks remain cautious in extending loans with a view to improving their mediumterm profitability and financial soundness. fund - raising costs of firms continued to be high according to their credit standing. in such circumstances, some firms, especially small and medium - sized firms, have been facing difficult financing conditions and this effect on the economy continues to warrant a careful monitoring.

the public. with these remarks, it is my honor and pleasure to formally declare the orient bank business academy launched. i thank you for listening to me. page 7 of 7
they created a monetary framework within the emu which they regarded as serving the community ’ s citizens best. although iceland stands outside the emu, we have incorporated into our monetary policy implementation much of what the eu countries agreed that best served their interests. i am convinced that we will benefit from this.

innovation in these industries. according to the u. s. census bureau, 97 percent of the country ’ s land mass is rural, and about 60 million americans call a rural community their home. 1 to put that number in perspective, the rural population of the united states is larger than the combined populations of the new york, los angeles, and chicago metro areas. if we were talking about the economies of those great cities, we ’ d stress their regional differences, the complexities of demographic change, and the distinct challenges each city faces to remain vibrant and innovative. when the focus shifts to the rural economy, however, the discussion tends to be overly broad and simplistic. the diversity and complexity of our vast rural communities too often gets lost — and i think that needs to change. there are challenges in rural communities. we know them all too well. there is a notable gap in access to broadband. as of 2016, 31 percent of americans in rural areas were not able to access broadband compared to just 2 percent of americans in urban areas. 2 this can have a significant business impact on ag producers — for example, limiting access to internet - based cattle auctions or inhibiting the ability of dairies to leverage technology to remotely access animal nutritionists to formulate feed to maximize milk production. 1 / 3 bis central bankers'speeches many rural schools struggle to attract and keep qualified teachers who can teach stem and advanced math classes. these subjects are vital to preparing our children for the opportunities and challenges of a more competitive and technological workplace. 3 one in five people in rural areas have a bachelor ’ s degree, compared to one in three in urban areas. 4 this educational disparity helps explain why the employment - to - population and labor force participation rates in rural areas are lower than in many urban areas. 5 another contributing factor to low rural labor force participation is the opioid crisis, which the entire nation is struggling to overcome. policymakers need to be aware of and be willing to confront these issues. but let me be clear : i am optimistic about the future of rural america. the narrative of rural decline is too sweeping and brushes aside the diversity of the rural experience. just as many cities thrive while others struggle, there are deteriorating rural communities and rural communities that are thriving and growing. so let ’ s build on these successes and highlight a few of the positives. following six years of steady population losses, up through 2016, the rural population appears to have stabilized. and while
you all a fruitful week. with these few words, i have much pleasure in declaring the 2009 afspc annual workshop and meeting open. vinaka vakalevu.

savenaca narube : credit unions in fiji keynote address by mr savenaca narube, governor of the reserve bank of fiji, at the pacific credit union technical congress, nadi, 30 september 2008. * * * introduction mr raduva, president of the fiji savings & credit union league mr brian branch, the chief operations officer and vice - president of the world council of credit unions mr peter mason, the chief executive officer of the credit union federation of australia delegates ladies and gentlemen good morning! a special bula vinaka to our visitors and welcome to fiji. i am told that there are 11 countries and 17 credit unions participating in this congress. i think that the world council of credit unions ( woccu ) and the credit union foundation of australia ( cufa ) has made an excellent choice to bring this important congress to the pacific and in particular to fiji. it is a pleasure to be your host. we hope that you will enjoy the warm fijian hospitality. before i proceed any further, i would like to make a few confessions. first, i do not know too much about credit unions. second, i have not been a member of a credit union. third, we in the reserve bank of fiji do not supervise credit unions. so, we do not have data on the operations of credit union in fiji. therefore, please excuse me if i say things that may be obvious to many of you or more seriously say something incorrect about your operations. global financial turbulence let me start at the global level. three months ago virtually everyone including myself were unanimous that the worst of the sub prime crisis was over. there was a general understanding that the global financial system will recover but it will take some time. how terribly wrong we all were! as we have seen, the events of the last few weeks took the global financial system to the brink of a major disaster of a magnitude that we had never seen before. historically strong institutions that we thought were safe are falling over. this brings home three issues – transparency, liquidity and regulation. first, transparency. the risks of financial instruments need to be more transparent. safety now needs to be redefined. we cannot rely on the traditional measurement of safety. they are clearly inadequate. there are serious risks in investments that are not fully disclosed. they are hidden below the balance sheet and even if there were above the line, the valuation of the securities that back then up are not clear and therefore difficult to value. we cannot
bank of uganda remarks by prof. emmanuel tumusiime - mutebile, governor, bank of uganda uganda bankers ’ association annual bankers ’ conference july 19, 2017 the keynote speaker, prof. njuguna - ndugu, emeritus governor of the central bank of kenya, the chief executives and senior staff of banks present, the senior management of the uganda institute of banking and financial services, distinguished guests, ladies and gentlemen. good morning to you all. let me begin by commending the uganda bankers ’ association for organising this inaugural annual bankers ’ conference. we have a very busy schedule of sessions on a variety of important topics to look forward to today. in my brief remarks i would like to outline what i believe are some of the key challenges for the ugandan banking industry in the years ahead. page 2 of 14 as will become clear, these challenges are in some respects interrelated, as progress in one area will make it easier to make progress in others. a major challenge for the banking industry ; one which is of the greatest importance for the rest of the economy, is how to strengthen bank lending to the private sector. bank lending expanded rapidly in the first decade of this century ; in real terms the stock of credit expanded four - fold between 2001 and 2011, and this enabled many new borrowers to access credit. but since 2011 credit growth has slowed and over the last two years, there has been virtually no growth in real terms ( after adjusting for inflation ). page 3 of 14 the main reasons for the stagnation of bank lending lie on the supply side of the credit market. over the last five years, since the first half of 2012, loan demand, as proxied by the value of loan applications received by banks, has grown robustly, by about 17 per cent per annum in real terms, but the value of loans actually approved by banks has grown much more slowly. consequently, whereas in the first half of 2012, banks approved loans in value amounting to 70 per cent of the total loan applications that they received, that figure had fallen to 51 per cent in the first four months of 2017. it is clear that, against a background of rising nonperforming loans and difficulties in realising the value of loan collateral in property markets, banks have become much more wary about the creditworthiness of loan applicants and as a result have become more reluctant to extend credit to them. page 4 of 14 unfortunately, the pool of prime borrowers –

speeches