samchain/econo-pairs-v2 huggingface dataset:
work? he will stand in the presence of kings. he will not stand in the presence of the unknown ". but it also says " all hard work brings a profit, but mere talk leads only to poverty ( proverbs 14 : 23 : ). in other words, give it your all, and you'll be rewarded. pressing forward is easier. so, if there's one thing you take away from this, let it be this : hard work should be your guiding principle. it might not be easy, but it will definitely be worth it. 3 / 5 bis - central bankers'speeches giving back and helping others now that i've reached a certain point in my career, i'm committed to giving back. that's part of why i'm here today - to share my story and help inspire you. i also founded the kevin greenidge charitable trust to support students who need financial help to achieve their educational goals. this is one of the most fulfilling acts in my life : helping others, sharing, contributing to people achieving their goals, helping them to press forward. but it's not just about me - it's about you, too. when you reach your goals, remember to help others along the way. giving back not only helps those in need but also enriches your own life. it is a most fulfilling and rewarding action because it connects us to a sense of purpose and community, reinforcing the idea that our achievements are most meaningful when they also benefit others. by giving back, we develop empathy, gratitude, and a deeper understanding of the needs around us, which not only enriches our own lives but also fosters a supportive environment where everyone can thrive. success isn't just about what we achieve for ourselves ; it's also about the positive impact we can make in the lives of others and our communities. as you press forward, give back in meaningful ways by volunteering your time to local charities, mentoring those who need guidance, sharing your skills and knowledge to help others grow, ( sharing your knowledge helps you to cement all that you know ) or simply being kind and supportive in everyday interactions. even small actions, like helping a neighbour or supporting a cause you believe in, can have a big impact. by giving back, you will contribute to a cycle of positivity and success that benefits everyone, creating a stronger, more connected community. again, a reference from the good book : " a

movements in overseas markets will be required. these are some of the challenges and opportunities i see facing the services sector and especially the financial corporate sector as it attempts to grow. this first decade of the 21st century promises therefore to be an exciting one for the caribbean provided if we are willing to grasp the many opportunities presented and provided we are not side tracked from our goal of keeping up with the front runners. we cannot afford to fall behind. i trust that over the rest of this conference our deliberations will help to confirm our resolve. thank you.
profoundly that our democracies will not accept twice to put between 25 % and 30 % of gdp of taxpayer risk on the table to sustain the financial sector. we have an absolute obligation to make the system much more solid. this is sometimes challenged by some financial institutions and market participants that see that the market is fortunately functioning again and have forgotten that governments put over 25 % of gdp of taxpayer risks on the table and that major central banks have engaged in non - conventional measures, which have been absolutely extraordinary. those miss the point that if things are progressively back to a normal functioning this is not thanks to the spontaneous behavior of the system itself, but very largely of the incredible engagement and commitment of public authorities which normally should not do that. question : do you see any evidence out there that there is excessive risk taking in the financial system again? mr. trichet : one of the major lessons we have to draw from the crisis was that risk management by financial institutions had been unacceptably poor and a major improvement of risk management by private institutions is of the essence. this calls for not confusing very short - term apparent profits, with the medium - term, real contribution to sustainable profits that should be the pertinent criterion for the remunerations : that being said the main message we have for our banks is loud and clear : “ reinforce your balance sheets by the appropriate means, including issuance of new shares when and where possible, putting aside a significant proportion of your profits instead of distributing it and being highly responsible when fixing up remuneration packages. ” all what central banks decided to do as regards non - conventional measures was done with the sole goal of permitting the financial sector to do its job, which is financing appropriately the real economy. our message is crystal clear. question : do you think that the banks in europe have been forthcoming enough about their potential losses? mr. trichet : the theory according to which the european banks would be less transparent than other banks in the industrialized world is not confirmed by what we know. we call upon our banks as well as all other banks to be as transparent as possible. that being said i think that the analysis of the imf and our own analysis published in our last financial stability review, stress that the loan provisioning is now the main issue for most institutions more than the so - called toxic assets. question : what kind of a grade would you give banks at this point? they have had several months since the economy has stabilized.

resolved. can you talk about the actions he has taken in response to the financial crisis? mr. trichet : i hold ben bernanke in very great esteem and very much appreciate the cooperation between the fed and the ecb, which became particularly close as the crisis unfolded. i do hope and am confident that he will be confirmed by the us senate.
contribution. now, i would like to give the floor to pierre - olivier gourinchas, professor of economics at california university - berkeley and the chief editor of the imf economic review journal to open the first session. bis central bankers ’ speeches

erdem basci : the importance of commodity price movements opening remarks by mr erdem basci, governor of the central bank of the republic of turkey, at the conference on “ policy responses to commodity price movements ”, istanbul, 6 april 2012. * * * distinguished guests, welcome to the conference on the “ policy responses to commodity price movements ” jointly organized by the international monetary fund, the imf economic review and the central bank of the republic of turkey. as i will deliver another speech in the panel session on the second day of the conference, i will attempt to keep this inaugural speech as brief as possible. as you will recall, we hosted a conference on commodity price volatility in istanbul last september within the context of g - 20 program. these two conferences on similar topics in such a short time are clear indicators of how important the commodity price movements are for the global economy. why are commodity prices so important? when we think of what is covered by “ commodities ” more closely, we also come up with how we should approach this issue. usually, the term “ commodity prices ” represent energy prices ( mainly the crude oil ), food prices and the prices of some main industrial inputs. energy prices are very closely monitored by economic units and policy makers, for it denotes the cost of one of the most significant inputs for the entire economy. energy is one of the primary cost factors for firms. it is also a considerable item for households ’ heating and transportation expenditures. on the other hand, due to its high share in the expenditures of especially low - income households and corresponding purchasing power effects, food prices are given a great importance by policy makers. meanwhile, the metals, such as iron ore, copper and aluminum, are among the most important raw materials for the industry and construction sector. the reason why commodity prices have been frequently attracting attention is the current fluctuations in commodity prices of a magnitude that has not been seen since 2007. price of brent crude oil, which was usd 50 per barrel in early 2007, climbed to usd 145 within one and a half year. then, parallel to the deepening global crisis in late 2008, crude oil prices went back to usd 35 ; and now it is hovering around usd 125. and the uncertainties about oil prices, resulting from demand and supply - side developments, and their potential effects keep the policymakers interest in commodity prices alive in the current economic outlook. as they are among the risk factors that affect the inflation outlook, we directly referred
national bank of serbia introductory address by the governor at the presentation of the inflation report – february 2020 dr jorgovanka tabakovic, governor belgrade, 19 february 2020 ladies and gentlemen, esteemed members of the press, dear colleagues, welcome to the presentation of the february inflation report, where we will give you an overview of recent macroeconomic trends, set out our new inflation and economic activity projections, and explain our monetary policy decisions in the period since the previous report. looking at the year behind us, i am pleased to say that 2019 as well was marked by positive economic trends and prospects, despite the slowdown in global economic growth and ongoing trade and geopolitical tensions. this is first and foremost the result of an adequate and consistent economic policy that we are pursuing in serbia. a policy which provided for the positive effects of many factors in the previous seven and a half years, contributed to the creation of a favourable business environment and turned our country into an attractive investment destination. in this way, in cooperation with the serbian government, we supported a vigorous rise in investment, which sustained a 4. 3 % economic growth on average in the previous two years. at the very beginning, i will try to sum up the period behind us by sharing the following data with you : - - - - - - for seven years in a row inflation has been firmly under the national bank of serbia ’ s control. in december 2019 it measured 1. 9 % y - o - y, which is also its average for the year as a whole. according to our latest estimate, economic growth came at 4. 2 % in 2019, exceeding all the projections released in the course of the year. after stepping up to 4. 8 % y - o - y in q3, gdp growth accelerated still further in q4 ( to 6. 1 % ), exerting the largest impact on the growth of the western balkans region, as stated by the european commission in its report. while many scaled down the growth forecasts of their economies, serbia outperformed all the projections owing to the impact of domestic factors, notably higher than projected investment. in the past two years alone, fixed investment increased cumulatively by close to 35 %, accounting for three quarters of serbia ’ s economic growth. the npl ratio was cut to 4. 1 % at end - december! this was a problem that we inherited, but which we addressed systematically. owing to such an approach, the share of npls in

contribute to the creation of a favourable business and investment environment. nonetheless, the following must be borne in mind – the more efficient fiscal consolidation and structural changes, the more feasible will it be for the national bank to achieve its objectives by providing a stronger monetary stimulus to economic growth! and vice versa, of course! bis central bankers ’ speeches
in the late 2014 date of the policy guidance. this would effectively tighten financial conditions not only by changing the expected path of short - term interest rates, but also by bringing forward the expected start of balance sheet normalization. regional economic conditions let me turn now to the regional economy, the focus of our presentations today. since our last briefing, the recovery in the region has picked up some steam. as attendees at previous regional press briefings may recall, the new york fed produces economic activity indexes to help monitor the performance of the regional economy. based on these measures, activity in new york state and new york city has expanded at a healthy clip, while new jersey ’ s growth continues at a more moderate pace. in puerto rico, the activity index produced by the government development bank for puerto rico shows that the island ’ s downturn appears to have ended, but the pick up that we noted at our last briefing has not persisted and the level of activity there has stalled. looking at payroll employment, however, the pattern of recovery is a bit more positive, though mixed across the region. new york state and new york city saw faster job growth than the nation since our last briefing. job creation in the city has been particularly robust and employment in the city is now above its pre - recession peak. in new jersey, however, employment stands only slightly above where it was at our last briefing and still is well below its previous peak. in puerto rico, employment continues to fluctuate near its lows, with no sign of a pickup. job polarization our special topic today is the issue of job polarization. as i have visited different parts of the district – most recently trips to long island, syracuse and buffalo – employers have told me that they are beginning to add jobs, particularly in high - tech fields. these jobs can best be characterized as high skilled and technologically advanced. i have heard similar stories from our small business advisory council, our upstate advisory council and even our community banks. these anecdotes are reflected in our research on labor market dynamics. over the past three decades, job opportunities have become increasingly concentrated in high wage / high skill occupations and low wage / low skill occupations, while job opportunities for those in the middle have been shrinking. at the same time, there has been a growing gap in wages between jobs that pay the most and those that pay the least. taken together, this phenomenon is often referred to as job polarization. the root causes of job polar

the mission, and applaud you for a job well done. thank you, ladies and gentlemen, for your kind attention. disclaimer : the views expressed are the views of the author and do not necessarily reflect the views of the federal reserve bank of new york, or any component of the federal reserve system. bis central bankers ’ speeches
, nber working paper 13329.

addition, poorer households tend to hold a larger fraction of their financial wealth in cash, implying that they are particularly vulnerable to higher inflation. finally, inflation and macroeconomic volatility may harm some sectors of the economy disproportionately, such as manufacturing or exportoriented industries, in which wages tend to be relatively lower. overall, monetary policy aimed at low inflation and economic stability is the most likely to lead to greater social equality over the longer term. in this sense, “ compassionate monetary policy is, most likely, simply sound monetary policy ”. 13 et al., 2012. “ innocent bystanders? monetary policy and inequality in the u. s ”, nber working papers 18170, national bureau of economic research. see m. ehrmann, and m. ziegelmeyer : “ household risk management and actual mortgage choice in the euro area ”, forthcoming. on the role of uncertainty shocks, see n. bloom, 2009. “ the impact of uncertainty shocks ”, econometrica, vol. 77 ( 3 ), p. 623 – 685, may. see s. albanesi, 2007. “ inflation and inequality ”, journal of monetary economics, vol. 54 ( 4 ), p. 1088 – 1114, may. c. romer and d. romer, 1998, op. cit. bis central bankers ’ speeches monetary policy during the crisis over the past five years we have experienced the deepest recession in euro area countries since the end of world war ii. the associated fall in activity was unprecedented : at the trough reached in june 2009, euro area nominal gdp had declined by almost 5 % on an annual basis. the recovery has been sluggish for the euro area, which is now experiencing a double - dip recession, with growth expected to recover only gradually. the implications for the distribution of income cover the three dimensions which characterise the allocation of resources. on the vertical ( or inter - temporal ) dimension, the income and wealth losses of the existing generation are severe. 14 in addition, young people are those most affected by unemployment. to take two examples, youth unemployment in spain was at 55 % and in greece at 57 % at the end of 2012. this seriously affects the lifetime income and wealth prospects of this group and may cause a “ lost generation ” to emerge. not only is unemployment an immediate social loss, but it is a stressful life event that reduces individual well - being in
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issued at different face value to help with pricing of goods and services. a 10 cent represents 10 % of the one dollar, 20 cents 20 % of one dollar, and a 50 cent represents 50 % of one dollar. in other words prices can fall as proportion of one dollar and we required coins to set the level of prices and receive correct change when we buy goods and services. my message to all of you therefore is simple. our new coins are meant to serve the solomon island economy for the next 30 years. to ensure that these coins play their role in the smooth operation of our pricing and payment system you must circulate the coins. the new coins have added benefits that you the people have told us to incorporate in the new coins. they are smaller in sizes and much lighter weight. and i am sure the new coins will not put holes your pockets when you carry them to make payments. i therefore invite you all to use the new coins when making small payments. finally, honourable prime minister and the good people of solomon islands, may i on behalf of the board of directors, the governors, the management and staff of central bank, congratulate the government and people of solomon islands on achieving and celebrating 34th year of our country ’ s independence. congratulation! may god bless solomon islands and long live its currency, the solomon islands dollar. thank you all. bis central bankers ’ speeches
all the participants for their serious commitment and the ideas, methods and conclusions in their laudable research. i would encourage you to continue in your career, after this first step in scientific research, with many more ambitious ones. let us now present the winning candidates. thank you and happy holidays! 2 / 2 bis central bankers'speeches

the event of stress. this approach recognises the integrated nature of many international groups. it recognises that having a clear agreed resolution strategy, combined with committed cooperation including in - depth sharing of information between the home and host supervisor, is key to understanding the risks that are shared by the parent and subsidiaries of large, complex groups. but it also seeks to ensure that the potential risks of a disorderly resolution are mitigated. in summary there are a number of key components to committed cooperation. a. a credible resolution strategy and equivalence of the home resolution regime, supported by internal tlac. bis central bankers ’ speeches b. a high degree of commercial, operational, and financial entanglement between subsidiary and parent. c. transparency over the financial position of the parent group, its capacity to support the subsidiary, and the equivalence of the home supervisory regime. d. transparency over the intervention framework, including host and home discretion and triggers for action. if we can move to a position where sufficient and appropriately committed loss absorbing capacity is in place on a global basis in order for these groups to deliver outcomes for both home and host supervisors, then we will be better able to realise the benefits of international banking – and to do so safely. in conclusion, international banking benefits the global economy. however it carries risks. and because of their cross - border nature, international banks are inherently harder to supervise due to the risk of duplication and gaps. there is in addition a danger of international banks being supervised sub - optimally in a balkanised manner. as the largest host supervisor globally by many measures, the uk is more exposed to these risks than most. in my view the best approach to try to tame these risks is to act globally, through committed cooperation between home and host supervisors. we can get to the point where we are not in fear of international banking, and that the risks that it brings are appropriately managed – just like a lion tamer controlling their lions – and under control. as host supervisors we are committed to playing our part in global consolidated supervision and resolution of international banks. this supports international banking and flows of capital – and supports a strategy of being “ open for business ” as long as it is safe. bis central bankers ’ speeches
milestone, and i wish them every success for the future and a memorable night for tonight. thank you for your kind attention.

been working in consultation with the ghana association of bankers, to review the existing base rate model. as you will recall, the idea behind the model was to bring transparency to base rate setting and hence lending rates in the economy ; and also to promote uniformity in the definition of determinants of the base rate in the industry generally. the committee has completed its work, and hence a draft notice would be issued soon for implementation. 13. another key effort is also underway to increase the effectiveness of the collateral registry and the credit reference bureaux. in this direction, the bank of ghana is developing a central data hub for use by data providers to ease their data submission to credit bureaus. also, proposed amendments to the borrowers and lenders act, act 773 have been drafted with the aim of strengthening the secured transaction regime in the creation, perfection, priority and enforcement of security interests on both movable and immovable property. 14. it is our hope that the availability of information on the credit history of borrowers will have a positive impact on the pricing of credit products across the financial sector. these developments will further deepen financial inclusion in the country. 15. ladies and gentlemen, while working to promote an accelerated development of the financial sector, we must remain cognizant of the emerging risks. we want to emphasize that strengthening financial service operations with risk management in the financial sector is a shared responsibility. 16. we as regulators are encouraging banks and other financial institutions put in place measures that will ensure a sound and safe banking sector where risks are commensurate with the rewards. in particular the full implementation of the basel ii and iii framework which seeks to minimize systemic risk in the financial sector. also, the recent passage of the banks and specialised deposittaking institutions act, 2016 ( act 930 ) and the ghana deposit protection act, 2016 ( act 931 ) in particular, were to provide a suitable legal framework for banking supervision, a framework that addresses issues of emerging risks and vulnerabilities in the banking system, while nurturing innovation and financial inclusion, powers of supervision and control, receivership and liquidation, among others. payment systems developments 17. ladies and gentlemen, as you are aware, information and communication technology ( ict ) is transforming the financial services industry with rapidity. ict is challenging the traditional banking model by providing alternative channels for banking and payments. 18. in response to the changing banking and payment landscape, we initiated a process to review the electronic money issuers