samchain/econo-pairs-v2 huggingface dataset:
see the inflation risk as serious and imminent, they are taking expansionary monetary and fiscal action. in the bank ’ s view, for trinidad and tobago, with inflation already at 14. 8 per cent, inflation reduction should be priority number one. in the overview, we make the point that a quick return to single - digit inflation is critical for reversing inflation expectations and bringing inflation down to 6 - 7 per cent in the medium term. one cannot have sustained growth and improve the quality of life of the population until inflation is brought under control. the downward trend in global food prices will help to reduce food price inflation ; expected increases in domestic agricultural production and increased food imports from guyana should also help to bring down food prices. the government has indicated that it will respond to projected reduction in energy tax collections by trimming expenditures. the central bank is committed to tightening the monetary stance as required. dealing with wage demands could present a challenge. high inflation and in particular, high food price inflation have seriously eroded the real incomes of workers and understandably this is going to be reflected in their wage demands. how we deal with this will determine whether we achieve a reduction in inflation or whether we face the risk of a wage / price spiral. we continue to believe that the best way of resolving this is through dialogue ( a social compact ) between the major stakeholders finally, the mpr touches on a worst - case scenario ( hopefully, highly unlikely ) in which oil prices fall below us $ 40 per barrel with corresponding declines in gas prices. we argue that our economy is in a better position now to withstand such a worst case scenario ( given our level of reserves, low external debt, the hsf etc. ). obviously addressing such a worst case scenario would call for major adjustment in both the public and private sectors. thank you ladies and gentlemen.

##ence to exogenous shocks, of the type we are facing currently. i therefore welcome you all to the seminar and invite you to contribute to meaningful discussions which will further the development of our sme sector and redound to benefit our economy over the medium and long term. i thank you very much for your participation and i again thank the various sponsors, speakers and all those who have contributed to make this seminar possible. i wish you a most productive seminar.
a minority of investors. in the case of liquidity, however, increased life expectancy, lower pension replacement rates and the greater health risks associated with living longer are all pushing french savers to adopt longer and longer investment horizons. we need to be able to offer them suitable savings products : ones that are less liquid, with or without a long - term capital guarantee, and that allow savers to benefit from the higher returns offered by equities over the long term. a crucial point is to avoid any tax distortions that might mean these products are penalised more than liquid and risk - free investments. this level playing field in terms of taxation should also apply to the companies that are financed : in other words we need to avoid making debt financing more attractive than equity financing. c ) the third focus is a precaution : it is vital that we increase transparency and provide savers with more information on the risk / return profile of their investments over different time horizons. financial intermediaries ’ role is precisely to pool individuals ’ savings, and transform safe liabilities – i. e. savings – into riskier assets – i. e. investments. but it is also the role of financial professionals to inform their customers about the type of investments they are making, including via multi - vehicle life insurance policies ( and notably unit - linked policies ). as for disintermediated financing, such as crowdfunding, which is attracting increasing numbers of savers, this is indeed a useful tool, but customers need to be informed of the risks they are taking and encouraged to diversify their assets. let me conclude with two more general remarks : – to better identify “ the various forms of savings on offer ” – the topic of today ’ s conference – we also need to look at the issue from different perspectives : a french perspective, of course, but also a european perspective, as many of the solutions we need can be found at this level. i am convinced that by combining the work of the european commission ’ s capital markets union, the juncker plan and the banking union, we can create a genuine financing and investment union within the euro area, one that benefits both savers and businesses alike. this is another promising channel for improving the allocation of household savings, the pooling of risks and the financing of the economy. – this debate on savings is both technically complex and impassioned – deservedly so as it concerns the wealth of ordinary french citizens. parliament has worked extensively on

the issue, publishing a number of vital reports. it is not my role to decide when or how we go about it, but i firmly believe our country needs to take a dispassionate look at the way it saves. savings are one of our foremost resources and they are in abundant supply ; business investment is one of our foremost needs. we mustn ’ t miss out on this opportunity in the current context of low interest rates. thank you for your attention and please feel free to ask any questions. bis central bankers ’ speeches
, in one crucial area, defined - benefit plans provide an important additional risk - mitigation benefit to individuals, because they are much better - structured to mitigate market risk. since defined - benefit plans pool risk across all plan members – past, present, and future – the precise retirement income of a plan member can be defined in advance and does not depend on market conditions at the time of retirement. however, defined - benefit plans do not eliminate group - longevity risk, which is the risk that all members of a pension plan could live longer than the actuarial tables predict. for individuals, there this includes the legal risk associated with the advice implied by the way a plan is set up. also remains a risk that the plan sponsor will be unable, for some reason, to deliver on its promise to pay the defined pension benefit. still, defined - benefit plans do a better job of mitigating risks for individuals than do defined - contribution plans. for society as a whole, defined - benefit plans can also mitigate risks more effectively. while definedcontribution plans typically offer members a limited range of investment choices, the managers of defined - benefit pension plans have both the ability and the incentive to invest in the kinds of assets that the average individual investor might not normally consider. this helps to reduce the possibility i mentioned earlier that these pools of contributions could be invested in a less - than - optimal way ; that is, that there could be a reduced supply of long - term risk capital for the economy. further, pension managers are more likely to invest in alternative asset classes and to engage in arbitrage between markets. all of these activities make financial markets more complete, and thus enhance their efficiency. but how do defined - benefit plans aid employers? they can serve as a powerful tool for attracting and retaining staff. and, if they function well, defined - benefit plans can eliminate the risk of employees retiring with very low incomes. but defined - benefit plans represent the transfer of a lot of risk to the plan sponsors. and for some sponsors, the liability associated with a defined - benefit plan can dwarf the sponsors'net worth. so for employees, employers, and society as a whole to fully realize the benefits of defined - benefit plans, three conditions must be met. first, sponsors need the ability and incentives to manage their risks appropriately. second, the risk that a sponsor will be unable to fulfill its promise must be properly managed. and third, the group - longevity risk i spoke

growth and on the cost and availability of credit in canada. weighing the implications of these considerations, the bank views the risks to its projection for inflation as balanced. against this backdrop, the bank judges that the current level of the target for the overnight rate – 3 per cent – remains appropriate. we will continue to monitor carefully the evolution of risks, together with economic and financial developments in the canadian and global economies, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term.
gentlemen, let me introduce to you for the first time in our history the 35th anniversary commemorative k2. 00 circulation coin. alongside it is the commemorative k2. 00 note which will circulate concurrently. another historical introduction is the new 35th anniversary 50t circulation commemorative circulation coin which has the bank logo in red on the back. a new look k50. 00 banknote is also launched. it has new security and design features which now standardizes the features with the other banknotes.

l wilson kamit : new commemorative banknotes and coins in papua new guinea speech by mr l wilson kamit, cbe, governor of the bank of papua new guinea, at the launch of the banknotes and coins to commemorate the 35th anniversary of the bank of papua new guinea, port moresby, 7 november 2008. * * * thank you for accepting the invitation to join us at the bank of papua new guinea to celebrate this important occasion. there are two important dates on our calendar we acknowledge each year. on 1st november 1973, soon after self - government and almost 2 years before independence, the bank of papua new guinea was established as the central bank of the emerging nation and a young mr henry torobert ( now sir henry torobert ) was appointed the first governor. the new secretary for finance then was mr mekere morauta ( sir mekere morauta ). the tasks before the two former governors and particularly the bank was to develop and pursue appropriate fiscal and monetary policies, adopt best practices in supervision of an infant financial system and introduce our own national currency. such were the challenges. the bank continues to face challenges and at times is compelled to undertake tasks outside of its core functions and these have been most satisfying. for instance, we were equity partners in starting up 2 commercial banks in the 1980s. in the 1990s, we were involved in the establishment of the port moresby stock exchange and the governor was a director from its inception till june 2008. our role was to nurture the financial institutions from their establishment and once they were operational the bank would exit. we have also been averse to readily accepting new responsibilities not because we cannot or do not want to but because we should limit ourselves to achieving the best in our core functions rather than the “ next best ” in undertaking too many roles and tasks. the bank ’ s independence is as far as making monetary policy and supervision decisions but any independent central bank must necessarily work with its stakeholders. the bank could not have progressed thus far on its own and we must acknowledge the contributions from the board of directors of the bank, different government officials we work with – minister patrick pruaitch mp, secretary tosali and executives and officers of the financial system we interact with on a daily basis. we have auditors, accountants, and lawyers who have assisted us reach many of our goals. out dedicated staff and their supportive families are also commended. the other important date on our calendar is 19 april of each year. this day in 1997
nor shamsiah mohd yunus : keynote address - global islamic finance forum 2022 keynote address by ms nor shamsiah mohd yunus, governor of the central bank of malaysia ( bank negara malaysia ), at the global islamic finance forum 2022, kuala lumpur, 5 october 2022. * * * it is a pleasure to be here at the seventh global islamic finance forum today. at giff 2018, i made a call for us to " rethink value, risk and human capital " in charting a new path of islamic finance beyond profits. and so, i thought that it would be fitting for my remarks today to reflect on the progress made, and how islamic finance has measured to its promise, especially in the context of developments globally since 2018. indeed, a lot has happened in these four years. the world also continues to face various challenges as we speak. we weathered an unprecedented pandemic, transitioned into the endemic phase and are now on the path to recovery. but the road continues to be rocky. next year, global growth is expected to moderate. this challenging environment is further complicated by inflationary pressures which is leading major central banks to tighten monetary policy aggressively. we have also entered a period of strong us dollar, leading to almost all major and regional currencies – the ringgit included – depreciating. in addition, the heightened geopolitical tensions have also fuelled global food and energy security concerns. all these challenges are also complicating the green and climate transition. against a backdrop of these global challenges, the islamic financial sector has continued to advance. value - based intermediation has become more entrenched in the corporate value intent and business strategies of islamic financial institutions. according to aibim " s vbi report which will be launched later today, rm146. 6 billion in financing, investments and deposits were intermediated by islamic banks in vbi - related or vbialigned initiatives between 2020 and 2021. tools such as the vbiaf sectoral guides, implementation roadmaps and reporting frameworks are now widely used by the industry to drive positive value and impact on the economy, society and environment. the intermediation of capital is also more diverse, with innovative instruments mobilising " beyond deposits ", adding risk - absorbent capital and social capital into the mix. notwithstanding the progress, one might question whether islamic finance has been living up to its promise and full potential. let me highlight

. 4 / 4 bis - central bankers'speeches
are more and more stretching regulations to outwit regulators ; and we regulators, need to continuously strive to keep ahead of them. the demands on the bank are becoming more and more exacting by the day. the restructuring of the bank, which i initiated in 2007, is ongoing. our headcounts are among the highest, on a per capita basis, amidst our peers and a more flexible approach is needed to attract new talents. fresh skills have been recruited to complement our pool of talents in new areas of business, for example, reserve management. a review of the salary and conditions of service at the bank was conducted to align them with market trends, attract new talents as well as retain existing ones. the salary review includes a performance management system which will be introduced this year, paving the way for a mechanism that relates work performance and remuneration. these developments should translate into efficiency gains and allow the bank to keep up to the mark when it comes to expected outcomes even if they exert pressure on our overhead expenses. words of appreciation in may 2013, our prime minister, dr the honourable navinchandra ramgoolam, gcsk, frcp, appointed me for a third term of office. i am deeply touched by this mark of continued confidence in my abilities to lead the central bank. i will endeavor to uphold the trust placed in me and i am sincerely indebted to him for the unflinching support he extended to me since the beginning of my tenure of office. i have worked closely with the honourable charles gaetan xavier - luc duval, gcsk, viceprime minister and minister of finance and economic development, and his team during the year. we have often had diverging views on our assessment of the economic situation. indeed it is common for treasuries and central banks to have occasional differences when it comes to economic, financial and monetary policies ‒ which our lively local media, and some interested lobbies, magnified. here, we have different mandates but we both have the economic welfare of the mauritian population at heart. i thank the honourable minister and his team for the cordial working relations between ourselves and between our respective staff, in particular at the level of different regular joint working committees. i have a special word of appreciation for the strong bond of partnership that now exists between the central bank and the banking community. our regular dialogue and frequent consultations have strengthened our collaboration. i therefore thank all stakeholders, in particular

can rest assured that the bank will leave no stone unturned to reach out to the population. i thank you for your attention. 4 / 4 bis central bankers'speeches
a number of programs will be initiated. the labuan international business and financial centre ( ibfc ) aspires to achieve the status of being the " gold standard for holding company jurisdiction ". this market has been identified as a further business driver for labuan ibfc. malaysia's extensive tax treaty network with over 63 countries in addition to the introduction of a more flexible tax framework supports this initiative. it was announced in the 2008 budget that registered labuan offshore companies now have the option to be taxed under the malaysian income tax act 1967 or the labuan offshore business activity tax act ( lobata ) 1990, thus enabling businesses to structure their transactions more efficiently. the labuan ibfc's competitiveness will be further enhanced through a revision of the pricing structure pertaining to incorporation and maintenance fee charges. there will be an annual reviews and prices will be revised in response to competitive market developments. the labuan ibfc will also leverage on the national strategy of the malaysian islamic financial centre by promoting syariah - compliant trusts and foundation. these products will complement islamic financial products and services already available in kuala lumpur. efforts will also be taken to further develop labuan's captive insurance business which has enjoyed commendable growth over the years. conclusion ladies and gentlemen, the establishment of labuan as an international offshore financial centre in 1990 was indeed a bold step in its time. we are now seeing the payoffs from this initiative. with the transformation of labuan as an international business and financial centre, our ambition will be taken further. the new name signals that labuan is ready to take on the much broader and larger role. the new name also represents a commitment. a commitment for the future. to demonstrate this commitment, the government and the regulators have put in place the supportive and enabling environment to promote a more connected and more cost effective environment. continued initiatives will also be taken to remove any impediments and obstacles to a more efficient delivery system and to advance forward the labuan ibfc. the responsibility for ensuring the ambitions of the labuan ibfc to be realised, is however, a shared responsibility. the future will be for the competitive. the future will be for the cost efficient. the future will be for the creative and innovative. the future will be for those that are able to give good value propositions to their customers. achieving this will therefore involve the industry, the market professionals and participants. with these cumulative efforts, we are confident labuan ibfc will

be another chapter of success, insya allah. on that note, i thank you again for being here to witness the launching of the labuan international business and financial centre. thank you.
our policy goals and long - run strategy. the framework clarifies how the fomc interprets our statutory responsibilities for facilitating maximum employment and price stability in terms of measurable and achievable economic goals that we aim for over the longer run. we say that the committee sees a rate of inflation of 2 percent over the long run as being consistent with the price stability leg. there are two important ingredients : our explicit inflation objective is 2 percent, and this is to be achieved over the long run. as recently as 2005, many fomc participants preferred to describe a range of inflation outcomes as being consistent with our inflation mandate instead of stating it as a single number. 3 our current statement narrows our objective to 2 percent. it also sees this as an average that we aim to achieve over the long run, in recognition of the obvious realism that inflation may deviate from this goal from time to time owing to economic challenges, conflicts in achieving the dual mandate objectives and difficulties in the policy transmission channels. the statement also notes that maximum employment is largely determined by nonmonetary factors, which are difficult to measure and may change over time. hence, we cannot and do not specify a fixed, time - invariant goal for it. but fomc participants can provide their current assessments of goal variables related to the achievement of maximum employment. we do so using the central tendency of fomc participants ’ projections for the rate that unemployment would converge to in the absence of further shocks to the economy. as of january 2012, this rate is 5 - 1 / 4 to 6 percent. the statement also indicates that policy will seek to mitigate deviations in inflation and unemployment from these longer - run goals, and addresses the weighting of relevant costs and benefits when trying to close these gaps. namely, if the policy prescriptions for achieving the inflation and unemployment goals are in conflict, we will take a balanced approach promoting the return to each, taking into account the size of the deviations and the relative see fomc ( 2005 ). bis central bankers ’ speeches speeds at which convergence can be expected. as we all know in this audience, there is an enormous literature related to characterizing the monetary policy loss function for a central bank with a dual mandate – such as work by john taylor, lars svensson and michael woodford. 4 for me, our federal reserve dual mandate responsibilities are well captured by a quadratic loss function that equally weights squared deviations of inflation and unemployment from their

financial integration that a monetary union entails. on the subject of spain, the ecb has warned the country on several occasions not to let the current account deficit get out of control and has also warned of the excessive growth of credit. but in a monetary union, the fight against property bubbles stems from macro - prudential policies carried out at national level. bis central bankers ’ speeches