samchain/econo-pairs-v2 huggingface dataset:
as " moneysense ambassadors ", you will first draw up your own pocket money budget. you can do so with the moneysense pocket money budget available on the moneysense website. encourage your friends to also take the first step in managing their money and draw up their own pocket money budgets. 15. of course, it is not only about drawing up a budget. after you have drawn up your budgets, remember to monitor your expenses and spend within your means. it is a simple discipline that's really worth putting into practice from young. the moneysensible awards 16. some may think that financial planning is only for the rich. this is a big misperception. regardless of our backgrounds and jobs, it is important to set our financial goals and map out how we intend to achieve them. the earlier we start, as individuals and as families, the easier it is to achieve our financial goals. 17. this roadshow features posters of singaporeans, from celebrities to the man - in - the - street, who share how they manage their money. it's worth reading the tips and messages they share and see how they can be applied in your lives. 18. i am also pleased to announce that in the coming weeks, moneysense will launch a series of moneysensible awards. moneysense will partner with the media on this. we will ask all of you to nominate people you know whom you think are doing a good job in managing their money. the awards will recognize individuals who have good and sensible habits in each of the three tiers of financial literacy : in basic money management : in financial planning, and in investments. details will be announced in the next few weeks. consumers need to take the initiative too 19. each of us as individuals have to take responsibility for our own financial well being, and that of our family. we can start by getting basic knowledge on money matters. lack of knowledge often results in bad decisions, which can hurt your financial situation. so we are bringing knowledge to more people. i understand that several financial planning associations, the securities investors association of singapore ( sias ) and singapore college of insurance ( sci ) are working with moneysense to deliver talks at various community centres. moneysense is also partnering the association of banks ( abs ) to run talks on credit management, the life insurance association ( lia ) and general insurance association ( gia ) to deliver seminars on insurance, and the investment management association of singapore ( im

##as ) and the singapore exchange ( sgx ) to present talks on the basics of personal investing. 20. you can also find a wide range of tools to for self - learning. for instance, the cpf board has several online calculators to help you plan for your retirement and housing needs. moneysense has worksheets to help you draw up your family budget and assess your debt commitments. there is also a moneysense guidebook to explain commonly used terms in financial documents that you may encounter. conclusion 21. i wish you an enjoyable time at the roadshow. enjoy the activities. most important of all, let's all use the tips and lessons we learn in your daily lives.
my main topic today which is the institute ’ s contribution to macroeconomics. i will focus on three main areas of contribution by the institute to the greater good of australian macroeconomics. the first is indeed leading indicators and business cycle analysis. the second is modelling and forecasting. the third is surveys. leading indicators and business cycle analysis for many years, the institute has been associated with its series on leading indicators, a summary statistic that aims to predict economic activity. i am not a particularly big fan of leading indicators as a general rule. personally, i prefer to look at and think about all the components of a leading indicator individually, rather than attempt to summarise the information in one index, particularly given that what matters most at different points in the economic cycle varies through time. ( the nils leading indicator of employment at the melbourne institute that i was just talking about probably does a better job of forecasting than the gdp leading indicator. ) that said, if one were going to use one leading indicator series in australia, then it would be the melbourne institute ’ s. as an aside, i was intrigued to learn from reading ross williams ’ book that the institute was the first body in australia to publish seasonally adjusted and trend data, some time before the abs began to do so. bis central bankers ’ speeches through the work of ern boehm, don harding and adrian pagan, the institute has also made a significant contribution to business cycle analysis. those three gentlemen have generated a number of great papers on the topic of measuring and dating business cycles. they have produced the definitive body of work for the australian economy. out of that research has come the most cited dating of australian business cycles. modelling and forecasting the melbourne institute has been synonymous with modelling, particularly during the reign of peter dixon. the modelling by peter dixon, as well as that done by peter brain was, of course, more of the cge world than the macroeconomic world. now a critical question is whether those two worlds overlap. i am told by those who can still remember, that a fair bit of time was spent trying to marry the short - term macro forecasting models at the treasury and the rba with the cge model of the institute. many conferences were held on the issue. i am not sure the question was ever really answered. but besides the modelling side of things, the institute regularly publish an assessment of the australian economy in the australian economic review, as well as discuss the outlook for

alliance is an excellent business and investment opportunity for both countries and institutions. i wish you both the very best in your future endeavours. vinaka vaka levu bis central bankers ’ speeches
bogota. thank you very much. 2 / 2 bis - central bankers'speeches

jose dario uribe escobar : recent performance of the colombian economy and the central bank ’ s monetary policy reactions speech by mr jose dario uribe escobar, governor of the central bank of colombia, at the bear stearns 2007 colombia conference, cartagena, 28 september 2007. * i. * * introduction thank you for the invitation to take part in this event. i will begin by describing and interpreting the recent performance of the colombian economy and then explain our monetary policy reactions. then i will comment on the recent turbulence in international financial markets and how it might affect the colombian economy. i will conclude with a summary of what i think are the key strengths of our economy and our policy framework and why they can cope with what may lie ahead. ii. the economic situation the colombian economy is growing at historically high rates. after expanding at around 5 % for two years, it grew by 6. 8 % in 2006. this strong surge has continued into 2007. gdp growth in the first semester was estimated to be 7. 6 %, and available indicators suggest growth in the third quarter will surpass 5 %. as illustrated in chart 1, there have been very few years since the 1970s when the colombian economy has expanded as fast as this. productive capacity and productivity also have increased at a high rate especially in industry and commerce. there is also an ample supply of labor. turning to domestic demand, the most noticeable feature in recent years has been the strong momentum in private investment. as chart 2 shows, private investment has grown at two - digit rates since 2002 and, until recently, was concentrated in machinery and equipment. private investment was up by 18. 5 % in 2006 compared to 2005 and up by 20 % in the first half of 2007 compared to the first half of 2006. this momentum was stimulated by good prospects for economic growth, improvements in security and confidence, tax incentives and the combination of historically low borrowing costs and the real appreciation of the peso. the growth rate of real private consumption has been above 7 % for three quarters. consumption growth was supported by favorable financial conditions as well as a sustained increase in salaried employment. our surveys tell us that families are optimistic both about their own financial prospects and those of the colombian economy. moreover a sharp increase in the terms of trade has contributed to income growth, and quite possibly made firms also feel optimistic about future profits. all this has boosted demand for goods and services. merchandise exports in current price dollar terms have doubled during the
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and inflation around its 2 percent target. just as a healthy, fit individual is more likely to shake off a covid - 19 infection, a healthy economy is more likely to recover quickly from a major negative shock. third, canada has enjoyed considerable success in keeping inflation close to target for more than 25 years. this means that investors, firms and households expect that the bank will act to help return the economy to capacity and bring about stable, 2 percent inflation. the bank ’ s recent actions should be seen in exactly that light. in recent weeks, governing council lowered our policy interest rate three times to 0. 25 percent, which we consider to be its effective lower bound. these moves were based on analysis of the factors we could measure immediately — mainly the likely fallout on the economy from the collapse in oil prices, as well as the immediate effects of measures to contain the novel coronavirus. this preliminary analysis indicated that cutting rates all the way to the effective lower bound was the best contribution the bank could make to stabilizing the economy and complementing the government ’ s efforts. looking ahead, the outlook is highly conditional on how long the containment measures remain in place, and how households and firms adapt. governing council agreed that it would be false precision to offer its usual specific forecast. instead, we chose to offer two plausible illustrative 1 / 2 bis central bankers'speeches scenarios for the economy — one should be thought of as a “ best case ” given where we find ourselves today, while the other is a much more severe scenario. many possible outcomes lie between these scenarios, but based on the bank ’ s new analysis, governing council concluded that substantial monetary stimulus needed to be in place to lay the foundation for the postcontainment economic recovery. for the bank ’ s policy actions to reach companies and households and foster a robust recovery, it is crucial that financial markets function well. in the past few days, governing council ’ s deliberations focused mainly on what additional actions the bank could take to achieve this goal. there has been some improvement in market functioning. but important strains continue, and governing council acknowledged that near - term borrowing requirements of governments and the private sector are likely to pose further challenges. we decided to increase the bank ’ s participation in the government ’ s treasury bill auctions to 40 percent of each new issue, and to underscore that our program of purchasing at least $ 5 billion per week of government of canada bonds in the secondary market could be increased at
for release on delivery 8 : 45 a. m. edt june 17, 2022 welcoming remarks remarks by jerome h. powell chair board of governors of the federal reserve system at “ international roles of the u. s. dollar, ” a research conference sponsored by the federal reserve board washington, dc june 17, 2022 good morning, and welcome to the inaugural conference on the international roles of the u. s. dollar. thank you all for participating and for lending your expertise on this important topic. this conference marks the first use of our new martin conference center, which i hope you enjoy. the international financial and monetary system that emerged after world war ii has been defined by the centrality of the dollar. it is the world ’ s reserve currency and the most widely used for payments and investments. as outlined in recent work by board staff, this global preeminence has been supported by the depth and liquidity of u. s. financial markets, the size and strength of the u. s. economy, its stability and openness to trade and capital flows, and international trust in u. s. institutions and the rule of law. 1 professor barry eichengreen will expand on some of these themes later this morning. the dollar ’ s international role holds multiple benefits. for the united states, it lowers transaction fees and borrowing costs for u. s. households, businesses, and the government. its ubiquity helps contain uncertainty and, relatedly, the cost of hedging for domestic households and businesses. for foreign economies, the wide use of the dollar allows borrowers to have access to a broad pool of lenders and investors, which reduces their funding and transaction costs. the benefits of the dollar as the dominant reserve currency have generated an extensive academic literature. yesterday ’ s paper on the treasury market by alexandra tabova and frank warnock extends that work in meaningful ways. see carol bertaut, bastian von beschwitz, and stephanie curcuru ( 2021 ), “ the international role of the u. s. dollar, ” feds note ( washington : board of governors of the federal reserve system, october 6 ), https : / / doi. org / 10. 17016 / 2380 - 7172. 2998. - 2the federal reserve ’ s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value. to that end, my colleagues and i are acutely focused

vulnerability of emerging markets economies to boom - bust cycles would be in the global interest. thank you.
are aiming to achieve with a strengthened resolution framework. we depend on your valuable input on the proposals presented in the discussion paper to ensure that we design a framework that will serve our financial system better into the future. i foresee likely changes to the policy proposals once we have processed all the comments and inputs. we look forward to receiving your honest and constructive opinions to help us achieve the best possible outcome. bis central bankers ’ speeches

times of banking system stress the process of financial intermediation can continue and, at other times, insuring that any lack of competition in the banking sector does not lead to excessively high prices for financial intermediation. importantly, to play this role the corporate bond market needs to be able to come to life when it is most needed – when it is needed as the spare tyre or when it is needed to provide competition. in a perfect world, the market would be deep and liquid at all times, but i don ’ t think this is required for the market to play this important insurance role. instead what is needed is that we have the general infrastructure that would allow the market to respond as necessary. here, i think australia is relatively well placed. the legal apparatus exists to issue corporate bonds. the trading arrangements are well established. we have a reasonable number of financial institutions that are able to assist companies in issuing bonds. we have businesses that have experience in the market. and we have superannuation and other funds that are willing to purchase bonds at the right price. this financial infrastructure means that we can have some confidence that there is capacity for the corporate bond market to fulfil this important insurance role. from this perspective, the fact that over recent times the corporate bond market in australia has been relatively subdued compared with the markets in europe and north america can, at least partly, be explained by the different outcomes in the banking sectors. in australia, our banks are in sound shape and have been willing to lend. in contrast, many of the north atlantic banks have had severe difficulties and have had little appetite for new loans. indeed, lending rates charged by euro - area banks have often exceeded the cost of bond market finance for even fairly lowly rated companies ( graph 10 ). in this environment, it is not surprising that bond issuance has increased. bis central bankers ’ speeches graph 10 in contrast, in australia, while a rise in the cost of bank funding over recent years has meant that some businesses have been able to raise funds in the bond market more cheaply than obtaining a bank loan, the number of businesses that have found themselves in this position is relatively small. by and large, the australian banking system has been able to meet the financing needs of most of the corporate sector. looking forward, we need to ensure that the infrastructure that supports the bond market remains in place and that it is strengthened over time. this strengthening is a gradual process and there have been some steps in
venture capital and private equity. we have to take account of that in our supervision. of course, such investments require a sufficient level of knowledge and expertise to manage these products responsibly. to further tailor the way we supervise, we have developed a good practice guide for sustainable risk management. we will update the guide this year and we also intend to include frequently asked questions to provide clear explanations and expectations. i hope these tools will encourage the financial sector to use forward - looking indicators. to apply scenario analyses rather than focus on historical track records. and motivate 4 / 5 bis - central bankers'speeches the sector to implement a concrete transition plan and more long - term, sustainabilityfocused kpis. i will now come to a conclusion. financial institutions play a crucial role in our societies. they play an important role in creating sustainable prosperity. so we need the financial sector to act urgently. we need to speed up the transition to become climate neutral by 2050, in line with international goals. we have to shift that green energy day on the calendar as fast as we can. there is no time to lose. the world needs the financial sector's help in financing the transition to a carbon - neutral society that is in harmony with nature. and we need the sector to manage its climate - and nature - related financial risks. they are often two sides of the same coin. we will only succeed if we join forces – supervisors, governments, financial institutions and other private parties. so let's check in today, and take up the task that lies before us – together. 5 / 5 bis - central bankers'speeches

the topics and discussions at this conference, i have no doubt that we will be successful. 5 / 5 bis - central bankers'speeches
world, and i am thinking here of the negotiations on the transatlantic trade and investment partnership. that will create opportunities for our firms. another key aspect in my view is tax stability for firms. some economists are of the view that governments should revive growth through expansionary fiscal policies. that ’ s what the governor of the oesterreichische nationalbank said recently. do you share this opinion? everything possible must be done, so long as it always complies with the stability and growth pact ( european fiscal rules ). there is very little room for manoeuvre … indeed. some countries have some fiscal leeway which they can use, but we don ’ t advise those without any room for manoeuvre to enter into expansionary policies. the european commission must apply the stability and growth pact to small and large countries in the same way. another effect of quantitative easing is that certain countries, such as italy, are today borrowing at negative rates. is this desirable and in everybody ’ s interest? sometimes we hear it said that the ecb should have a less accommodative monetary policy because it has created false incentives for governments. this reasoning is not in line with the spirit and the letter of the european treaties. the ecb is not – and must not be – an instrument of fiscal policy. but we say to the countries in question that they should make the most of the current situation and of the gains stemming from the drop in interest rates to reduce their indebtedness rather than to spend more. finally, do you think that the ecb will exit this state of emergency before you come to the end of your term? as far as the financial state of emergency is concerned, yes i do. the challenge now is to achieve long - term growth. so, the answer is no? let ’ s just say that, increasingly, the challenges that europe is facing are unrelated to monetary policy. bis central bankers ’ speeches let ’ s move on to the topic of greece. social discontent is on the rise, the negotiations between the tsipras government and the “ quartet ” are already stalling over some points of the new financial rescue plan. isn ’ t there a risk that the coming months will be turbulent? no one said it would be easy. the third programme, which was approved by the greek parliament, is extremely ambitious. it covers areas that previous governments had not dared to tackle, which call into question existing benefits, for example the battle against vested

interests in some sectors. nevertheless, a positive dynamic seems to have taken hold since july and is starting to bear fruit. interest rates have fallen and money is flowing back into the greek banks. and this will speed up once the banks are recapitalised, which must take place before the end of the year. but it won ’ t be easy. bis central bankers ’ speeches