samchain/econo-pairs-v2 huggingface dataset:
##ize the financial market, and strive to build a mutually beneficial relationship between china and its foreign partners. thank you.

and prevent risk contagions across markets, regions and borders. third, we will accelerate the development of financial market infrastructures and improve comprehensive financial sector statistics. we will use advanced technologies and payment and settlement system to monitor and regulate the online, offline fund flows within china and across the borders, so that all fund flows are under the radar of financial regulators. fourth, we will improve the resolution mechanism for failing financial institutions. we will explore ways to develop market - oriented and law - based exit mechanism for financial institutions, with deposit insurance as its platform. this year, we will follow president xi jinping ’ s remarks that “ when it comes to improving financial services and preventing financial risks, a key component is to deepen reform and opening up ”, steadily promote the opening up of the financial sector to facilitate the supply - side structural reform and the structural improvement of the financial system, and to support high - quality economic growth. thank you! appendix transcript of the question and answer session question : financial sector opening up is politically controversial in some countries. does china face a similar situation? answer : there are different opinions with regards to financial sector opening up in china. some support greater opening while others have concerns. looking at china ’ s experience in opening up, all the liberalized sectors have become more competitive and provided better services, while the closed ones are less efficient and backward. so i think financial sector opening up is good for china, especially for the chinese people, because it enables competition between domestic and foreign institutions. as a result this improves services and efficiency in china ’ s financial market. our conclusion is that further opening up do more good than harm. meanwhile, we have make preparation in terms of laws and regulations accordingly and formulated a roadmap and 4 / 5 bis central bankers'speeches timetable based on chinese circumstances. all these are in china ’ s own interests. question : thank you, governor yi, for the very encouraging update on the progress of financial market opening - up. some foreign media seems to think that the lack of central bank independence in china provides room for risk control on the one hand but does not facilitate monetary policy flexibility on the other hand. could you share your thoughts with us? answer : the central bank formulates and implements monetary policy in accordance with the law of the people ’ s republic of china on the people ’ s bank of china promulgated in 1995. since 1995, the conduct of monetary policy in china has been sound. domestic prices have remained
specifically, i note a very timely and comprehensive analysis of liquidity issues was prepared in a special financial stability review by the bank of france in february. in new zealand, we have also been keenly aware of the liquidity risks that recent events have demonstrated. banks have had an important role intermediating capital account flows into new zealand ( and australia ), and have accepted a significant amount of short term capital flows in order to minimise funding costs. we want to look at whether the vulnerabilities that this can create have been adequately priced and managed – noting that some of the costs of a liquidity event are probably externalities that would ultimately be borne by other new zealand parties. breakdown of short term lending markets is one specific challenge we would expect to confront if the financial stability situation deteriorates markedly further in one or more of the major advanced economies. there will doubtless be other flow - on effects as well. like the transmission of subprime issues to monolines and seemingly unrelated markets, many of these flow - on effects could surprise us. however, the potential for a deterioration in financial stability to further intensify risk aversion seems significant. for countries like new zealand with substantial borrowing from abroad this could clearly have an impact on our cost of funds and / or our access to funds in some global financial markets.

increase in financial savings at the banking system. the easing of financial costs was not fully transmitted to the private sector credit segment during july - august. in particular, additional costs required by banks to anchor the new credit remain tight, in response to the perceived uncertainty and their reacting mechanism for credit risk reduction. against the backdrop of slow current and expected economic developments, aggregate demand and inflation, the monetary policy deepened its stimulating nature in the third quarter. as at end - july, the key rate was lowered by 0. 25 percentage points, down to its historical minimum of 4. 0 %. this was the fifth key rate lowering since september 2011. parallel to that, the bank of albania continued to supply the banking system with the required liquidity through its variable liquidity - providing operations. * * * future outlook suggests that inflationary pressures remain low. our analyses and projections conclude that the economic activity will remain below potential, exerting pressures on the downside inflation. at the same time, the supply generated pressures appear contained. based on current performance of inflation - determining factors and their future outlook, after 12 months inflation is expected to fluctuate around 1. 2 % – 3. 4 %, with a probability of 90 %. the expected inflation and economic outlook imply the maintaining of a stimulating monetary policy for the period ahead. the bank of albania remains heedful to future developments and new information, and stands ready to intervene timely and duly to meet its legal mission. bis central bankers ’ speeches
of its steps. we are confident that this cautious approach will bring us closer to our goals of longlasting macroeconomic stability and economic growth even under conditions of extreme uncertainty. in conclusion, i would like to underline the following. 3 / 4 bis - central bankers'speeches despite all the terrible consequences of war, our people have shown incredible resilience while the economy has successfully adapted to new conditions. preservation of macroeconomic, monetary, and financial stability facilitated heavily this adaption. the current macroeconomic situation is conducive to carefully embark on the path of mp normalization. in fact, we have already implemented some measures of the fx liberalization roadmap and are progressing on creating final preconditions for return of er flexibility. at the same time, the support of international partners, both financial and military, remains crucial for ukraine's macroeconomic stability and quick post - war recovery. that's also important for macroeconomic performance of the whole region of cesee and of the whole world. again, thank you very much for your unwavering support. 4 / 4 bis - central bankers'speeches

rates on hryvnia term household deposits. yields on hryvnia instruments exceeded current and expected inflation. as a result, hryvnia term household deposits and households'investments in domestic government debt securities continued to rise, which was in line with the nbu's tasks. in view of the expected acceleration of inflation in 2024 and the upward shift of the balance of risks, the nbu considers it appropriate to keep the key policy rate unchanged. this will help maintain the attractiveness of hryvnia instruments, which will limit demand on the fx market, while also helping the nbu to discharge its mandate for 3 / 4 bis - central bankers'speeches safeguarding exchange rate sustainability. in addition, the nbu will maintain an active presence on the fx market to smooth out excessive exchange rate fluctuations within the scope of the managed exchange rate flexibility regime. in turn, maintaining exchange rate sustainability will remain an important tool for keeping 2024 inflation and inflation expectations in check, and for bringing inflation to its target range in 2025. the baseline scenario of the nbu's forecast, which assumes that ukraine will receive sufficient international financing and that security risks will subside from next year, provides for a slight reduction in the key policy rate starting in h2 2024. at the same time, the nbu will adapt its monetary policy if the balance of risks for inflation and exchange rate sustainability changes. any further decisions on the key policy rate will depend on inflation dynamics, the state of the fx market, the regularity of international aid inflows, the evolution of security risks, and other factors. 4 / 4 bis - central bankers'speeches
demand pressures have abated. corporate pricing behaviour has continued to normalize. at the same time, measures of near - term inflation expectations and wage growth suggest that underlying inflationary pressures remain. let me conclude. we've come a long way from the inflation peak in 2022. monetary policy is working, and we need to continue to let it work. we remain resolute in our commitment to return inflation to the 2 % target. 2 / 3 bis - central bankers'speeches with that summary, the senior deputy governor and i would be pleased to take your questions. 3 / 3 bis - central bankers'speeches

david dodge : bank of canadaa€™s views on the canadain economy and its monetary policy objective opening statement by mr david dodge, governor of the bank of canada, to the house of commons standing committee on finance, ottawa, 1 may 2007. * * * good morning, mr. chairman and members of the committee. we appreciate the opportunity to meet with your committee, which we usually do twice a year, following the release of our monetary policy report. we believe that these meetings help us to keep members of parliament and, through you, all canadians, informed of the bank's views on the economy and about the objective of monetary policy and the actions we take to achieve it. when paul and i appeared before the finance committee last october, we noted then that the outlook for growth in the canadian economy had been revised down slightly from earlier expectations. in our latest monetary policy report, which we released last thursday, we noted that canada's economic growth did indeed slow, but recently, inflation has been higher than expected. after considering the full range of indicators, the bank now judges that the canadian economy was operating just above its production capacity in the first quarter of this year. we expect that, over the projection horizon, domestic demand will continue to be the main driver of growth in canada. with the u. s. slowdown now expected to be somewhat more prolonged than previously projected, net exports should exert a slightly greater drag on canada's growth in 2007. the canadian economy is now projected to grow by 2. 2 per cent in 2007 and 2. 7 per cent in both 2008 and 2009. this would return the economy to its production capacity in the second half of 2007 and keep it there through 2008 and 2009. core inflation should remain slightly above 2 per cent over the coming months, given pressures on capacity and the impact of higher core food prices. but with the economy projected to return to its production capacity in the second half of this year and with further easing of pressures from housing prices, upward pressure on core inflation is expected to moderate, bringing the core inflation rate back to 2 per cent by the end of 2007. total cpi inflation is projected to rise above the 2 per cent inflation target in the second half of this year, peaking below 3 per cent near the end of 2007 before returning to the target by mid - 2008. we at the bank continue to judge that the risks to our inflation projection are roughly balanced, although there is now a slight tilt to the upside
as the ecb and the eurosystem provides a necessary condition for growth but is not responsible for the other conditions that are equally necessary to ensure higher long - term growth and prosperity. this requires in particular sound fiscal policy and bold structural reforms. 2. the need for sound public finances sound public finances support a stable macroeconomic framework. in particular, a fiscal policy that is set according to rules, and is lived up to, adds to macroeconomic stability by providing economic agents with expectations of a predictable economic environment. this reduces uncertainty and promotes longer - term decision - making, notably investment decisions, and economic growth. furthermore, it is important to keep in mind that fiscal policy can also promote growth and employment via appropriate adjustments of the level and composition of government taxes and expenditures. reducing inefficient public spending can for example help to finance tax cuts. furthermore, public expenditures can be redirected towards productivity - enhancing physical and human capital accumulation rather than, for example, the provision of subsidies for declining industries. as regards the stability and growth pact most recent events, i would only say that the governing council shared the concerns of the commission on the ecofin council conclusions of 25 november 2003 and made it public. the commission is the guardian of the treaty and the governing council of the ecb respects the recent commission ’ s decision to seek legal clarity. the governing council does not see a need for changes in the treaty, and the stability and growth pact in its current form is appropriate in its view. the governing council is in agreement with the commission that the implementation of the stability and growth pact could be further improved, in particular as regards the analysis of structural balances and strengthening the incentives for sound fiscal policies in good times. clarity and enforceability of the fiscal framework should also be enhanced. 3. the need for structural reforms turning to the aim of a higher long - term sustainable growth rate in the euro area more generally which, as i said, should be our major strategic goal, what we need is both higher productivity growth and higher employment creation. what is needed for these objectives to be achieved are economic reforms that ensure that capital, labour and product market rigidities will be substantially lowered. structural reforms in capital, labour and product markets and in social security systems are needed to allow an allocation of capital and human resources which would be much closer to the optimum, enhancing the euro area ’ s growth potential and facilitating the adjustment to economic shocks. the reform priorities in the euro area ’ s

you very much for your attention. bis central bankers ’ speeches
over the monetary policy time span. also, economic agents ’ inflation expectations remain anchored around the bank of albania ’ s target. at the conclusion of discussions, the supervisory council decided to cut the key interest rate by 0. 25 percentage points, down to 4. 75 %. this decision serves to comply with the inflation target in the medium run and provides appropriate monetary conditions to stimulate the economic activity. the bank of albania remains heedful to future economic and financial developments at home and abroad, with a view to take the right steps for the fulfilment of its mandate. bis central bankers ’ speeches

stephen s poloz : summary of the latest monetary policy report opening statement by mr stephen s poloz, governor of the bank of canada, at the press conference following the release of the monetary policy report, ottawa, ontario, 22 january 2014. * * * good morning. tiff and i are pleased to be here with you today to discuss the january monetary policy report, which the bank published this morning. before we take your questions, allow me to note the highlights of the report. • inflation in canada has moved further below the 2 per cent target. this is due largely to significant excess supply in the economy and heightened competition in the retail sector. the path for inflation is now expected to be lower than previously anticipated for most of the projection period. • the bank expects inflation to return to the 2 per cent target in two years or so, as the effects of retail competition dissipate and excess capacity is absorbed. • the global economy is expected to strengthen over the next two years, rising from 2. 9 per cent growth in 2013 to 3. 4 per cent in 2014 and 3. 7 per cent in 2015. • the united states will lead the way, helped by diminishing fiscal drag, accommodative monetary policy and stronger household balance sheets. the improving u. s. outlook is affecting global bond, equity, and currency markets. • growth in other regions is evolving largely as projected in october. • global trade growth plunged after 2011, but is poised to recover as global demand strengthens. • in canada, economic growth improved in the second half of 2013. however, there have been few signs of the anticipated rebalancing towards exports and business investment. • while we are doing more work to understand the wedge between the level of canadian exports and that of foreign demand, this remains difficult to explain. we are therefore taking a conservative approach to our forecasts for exports, and assuming the wedge will remain. • that said, the u. s. recovery is becoming more broad - based, including higher investment spending by companies, and that, as well as the recent depreciation of the canadian dollar, should help to boost exports. this, in turn, should lead to stronger business confidence and investment here in canada. • meanwhile, recent data have been consistent with the bank ’ s expectation of a soft landing in the housing market and a stabilization of household indebtedness relative to income. • real gdp growth is projected to pick up from 1.
note that the agenda for this conference covers the envisaged benefits of islamic banking, among other topics. in conclusion, i wish therefore to emphasize that while islamic banking and finance is envisaged to significantly contribute to economic growth and development, it remains an emerging field in the financial system worldwide. i, therefore, urge all stakeholders to clearly understand islamic banking and finance model ; appreciate its unique tenets that distinguish it from conventional banking and at the same time acknowledge the similarities between the two ( 2 ) models. this will significantly contribute to the effective rollout and growth of the islamic banking sector in uganda. on its part, bank of uganda will continue to collaborate with all stakeholders and ensure that the requisite regulatory and supervisory structures for supporting the growth of islamic banking and finance in this country are robust and conducive for all investors. with those remarks, i wish you fruitful deliberations. i thank you. bis central bankers ’ speeches

an adjustment period of more than a decade since the bursting of the bubble. structural reform of the economy is aimed at stimulating activity in the private sector while managing the economy in a more market - oriented manner. thanks to deregulation and other government policy measures and private - sector initiatives, the economy is on the threshold of a new growth phase. it is important to make the best of privatesector dynamism by establishing clear prospects for fiscal consolidation while at the same time gaining credibility among the public. the bank is determined to contribute to the new growth phase of japan's economy, through its efforts to achieve long - run price stability by the appropriate conduct of monetary policy.
develop financial products and services that are tailored to the needs of end - users. as we move towards the post - covid - 19 economy, it is important that regulators and the private sector collaborate to utilize innovations like open finance not just to broaden the range of digital financial services and businesses that can be gained from all the available information. rather, open finance should serve, together with our other digitalization efforts, to improve the welfare of every citizen, especially the poor, the marginalized and the unbanked, as we strive towards a truly inclusive recovery. thank you and good day! 2 / 2 bis central bankers'speeches

agenda of pursuing financial stability and mitigating systemic risks. regulators talk of this continuously and we have set this as a threshold of prudential policy moving forward. many may argue however that financial stability is best left to regulators. after all, each bank is well aware of its own actions, its balance sheet and performance metrics but certainly not of each and every other bank out in the market. should you not then focus on the bottom line and leave the “ big picture ” to the prudential authority? this is an easy argument to make. but i believe it to be only half true. while regulators need to understand and take action on what can impair the system as a whole, this cannot be simply a task of one stakeholder. how can the greatest good be achieved if not all stakeholders assume collective responsibility? we believe that it is useful for all other stakeholders to have a working appreciation of that same big picture that regulators routinely worry about. from a capacity - building standpoint, this is ground zero. all other training initiatives will emanate from this. capital market issues such as products and markets, pricing and valuation, and market infrastructure easily emanate from the same framework. all these training topics are quite technical in their own regard but there is a direct way to make them part of one common objective. training opportunities in the basel accord, icaap, stress testing, risk management, good governance, compliance framework, among others, can then be brought to bear on this singular prudential goal of achieving stability. final thoughts ladies and gentlemen, while we have made strides, we should not rest on our laurels. to say that much more needs to be done is an understatement. the truth is that a lot more than “ much more ” must be done if we are to continuously move forward. but the tasks ahead are not independent strands but should instead be seen as part of a single process. just like the relays in athletics, each stakeholder plays a unique role so that the baton is faithfully passed on from one leg to the next. those of you who know the 4 - by - 100 relays understand that the winning team is not always made up of the four fastest runners. relays are not only about sheer speed. rather, most races are won – and lost – in the baton hand - off. capacity - building is just like these competitive relays. the skill set that one develops is the speed that allows us to