samchain/econo-pairs-v2 huggingface dataset:
we have also begun visiting first nations community organisations in key regional and remote locations across australia and the torres strait, to engage with local communities about the theme nomination process. i encourage all australians to be involved in contributing to this important endeavour. i will finish on that note. my colleagues and i look forward to answering your questions. 5 / 5 bis - central bankers'speeches

higher international price pressures. neither do we believe that the krona will appreciate as much in the period ahead. the overall assessment is that inflation will rise in the coming years, but at a fairly moderate pace. for the larger part of the forecast period inflation is expected to be below 2 per cent. our forecast is that the twelve - month change in the cpi will be 1. 5 per cent in one year and 2. 2 per cent in september 2007. the corresponding forecast for underlying inflation und1x is 1. 2 per cent and 1. 8 per cent, respectively. the question then is what this entails for monetary policy. what is clear is that the low inflation has meant that monetary policy has been highly expansionary for a rather long time. this, of course, has helped stimulate economic activity and contributed to the firm economic growth. it also has had consequences for, among other things, developments in house prices and households'debt situation. as i observed earlier, the assessment in the inflation report ’ s main scenario is based on the technical assumption that the repo rate will develop in line with implied forward rates. it must be emphasised that the assumed interest rate path should not be interpreted as reflecting the path the riksbank considers to be most desirable. the inflation development i have described and which follows on from the current interest rate assumption is judged to be reasonable, but there are several alternative paths for the future repo rate, which would give roughly the same outcome for inflation. as before, there is also reason to note that household borrowing and house prices are continuing to rise rapidly. given this, the decision we made yesterday was to leave the repo rate unchanged at 1. 5 per cent. the precise future stance of monetary policy will depend as usual on new information regarding economic developments in sweden and abroad and on the riksbank's assessment of the inflation outlook. by way of conclusion i would like to refer back to the first part of my speech, where i presented some information regarding the outcome of the policy that has been conducted in sweden in the past ten years and of the riksbank's efforts. let me stress that the good results that have been achieved – with a stable and relatively strong economic performance – are very much due to decisions taken here in the riksdag. i am thinking of those decisions you made during and after the crisis years with regard to budget policy, both its framework and its implementation, and the various decisions you have taken that
ashraf mahmood wathra : risk management framework in banks welcome address by mr ashraf mahmood wathra, acting governor of the state bank of pakistan, at the saarcfinance regional seminar on “ risk management framework in banks ”, islamabad, 17 march 2014. * * * good morning, ladies and gentlemen. i am immensely delighted to welcome you all in islamabad. it is my pleasure to inaugurate this saarcfinance event on the ever important theme of “ risk management framework for banks ”. i believe the program will facilitate sharing of best practices, latest developments in risk management and generate a fruitful discussion on impending challenges in the field of risk management while analyzing its different facets. an efficient and healthy banking system is a prerequisite for sustainable economic growth of a country. in this context, effective risk management practices enable the banking industry to build public trust and confidence in the institutions which is necessary for mobilizing private savings for investment to facilitate economic growth. on the flip side, inadequate risk management practices in the banking industry would result in bank failures leading to erosion of public confidence in the industry having adverse implications for the economic growth. therefore, an effective risk management framework is a prerequisite for banks to achieve their own business objectives and also play their role in the economic growth of the country. ideally, banks ’ risk management framework should strive to cover the full spectrum of risks by analyzing them from both business and enterprise level perspectives. each banking institution should tailor its risk management program to its need and circumstances. i would like to elaborate on the main elements of a risk management framework that apply to banking institutions irrespective of their size and complexity of business : first and foremost, effective risk management framework demands active involvement of the board of directors ( bod ) and senior management in the formulation and oversight of risk management processes. accordingly, they should provide strategic direction and approve the overall business strategies and significant policies of their institutions, including those related to managing and taking risks, and should also ensure that senior management is fully capable of managing the activities that their institutions undertake. second, adequate policies, procedures, and limits need to be defined by an institution ’ s directors and senior management to tailor their risk management policies and procedures to the types of risks that arise from the activities the institution conducts. third, adequate risk monitoring and management information systems need to be developed for effective risk monitoring and to identify and measure all material risk exposures. consequently, risk

which may pose potential risks for each of our banking sectors. i hope you will enjoy your stay at islamabad and continue deliberations in the forthcoming sessions of the seminar. thanks. bis central bankers ’ speeches
caleb m fundanga : corporate social responsibility in zambia speech by dr caleb m fundanga, governor of the bank of zambia, at the launch of the mukuyu tree ( slave tree ), kabwe, 23 december 2006. * * * • the provincial minister of central province • hon. sydney chisanga, mp • hon. rev. gladys nyirongo, mp, minister of lands • hon. kakusa, mp • your worship, the mayor of kabwe, mr richard yumbe • the deputy mayor of kabwe, mr edward phiri • the town clerk, mrs vivian chikoti • distinguished invited guests • ladies and gentlemen a very good afternoon to you all. it gives me immense pleasure to be here this afternoon in the town of kabwe, which also happens to be the place in which i spent my childhood. as you are aware, we are here to celebrate the occasion of the lighting of the legendary mukuyu tree, popularly known as the slave tree. for many of you kabwe residents present here, especially our senior citizens, this tree rekindles many happy memories of joyous occasions such as christmas, independence day and labour day, when the tree would shine brightly after being adorned with beautiful multi - fluorescent lights for all to admire. the mukuyu tree is one of zambia ’ s national monuments. its history spans more than a century of being part of the lives of the community in this area. ladies and gentlemen, this historic monument invokes memories of a sad but important aspect in our beautiful country ’ s history. this experience, unfortunately, did not only affect us here, but the whole continent and beyond, touching lives far and wide. i am referring to the infamous slave trade era. historians, time and again, narrate to us tales of how this wonderful tree was used as the resting place for our forefathers, who were captured into slavery as they were marched across this land, being traded as commodities from africa to far away lands. it is now common knowledge, rather than myth, that our fore - fathers were being traded under this same spot on which we stand today, proud and free. after the abolition of the slave trade, the tree attained a new significance as a “ rendevous ” or meeting place. it was from under this very tree that some of our fore - fathers were recruited and taken to fight in the first and second world wars. as mentioned earlier, later

for fostering best practices, raising awareness and helping us to improve our processes especially in this area of financial stability in the region in general. finally, i hope that you will find this workshop stimulating and that you will enjoy your stay in zambia. with these remarks, i declare this workshop officially open. i thank you. bis central bankers ’ speeches
already been. i wish you well in your deliberations.

levels and have reached over a billion fijian dollars now. of course, this turn around in the reserves did not come about without much pain. our import prices naturally went up quite significantly and are still going up. this, of course, leads to higher inflation and affects people ’ s livelihood. you are noticing that the inflation rate has been going up gradually and is expected to increase further before decelerating to around 2 percent by mid - next year. let me now touch on a few other policies we have put in place to assist economic recovery. interest rates the interest rate environment that we faced in fiji early in the year was not conducive for economic recovery. under normal circumstances, when you have balance of payment difficulties, you would expect to see interest rates rising. but we were not in normal circumstances. the whole world was not going through normal circumstances. countries all over the world took unprecedented and non - traditional measures to deal with the grave financial and economic situations they were faced with. governments pumped in trillions of dollars into their economies to fend off the financial crisis. we had a situation in fiji where our economy was buffeted by factors beyond our control. our export incomes were drying up as our exports started to decline due to the fall - off in global demand for our exports. inward remittances which became a major source of foreign exchange for fiji over the last four to five years started to also fall - off significantly due to the global crisis as our people who worked abroad started to lose their jobs and fewer people were getting new employment abroad. now, when faced with this kind of situation and then you have some banks still increase their interest rates despite being asked to show restraint, there is no choice but to put regulations in place. it is against this background, that interest rate controls on banks and other financial institutions were put in place in april this year. these controls included a ceiling on lending rates and also controls on the spreads. the “ spread ” is the difference between the lending rates and deposit rates. i am pleased to say that these policies are working well. interest rates have started to trend downwards while deposit rates are gradually edging up. now that foreign reserves have stabilized, the credit ceiling that was put in place in december 2006 has been lifted. as the economic situation normalizes, we will also consider further roll - back of the current policies. however, it is critical that we see both domestic and foreign investments start to pick up. micro - finance let
au commission that would conduct outreach, consult with a range of stakeholders, and put forward african positions at the g - 20. 6 saiia has provided some recommendations on how the capacity constraints on the continent could be addressed, which would entail, among others, the following : collecting information about relevant issues on the g - 20 agenda and preparing clear african positions in line with the continent ’ s overall development objectives, possibly also coordinating african delegations participating in g - 20 events, as was done at the time of the cannes summit in 2011 ; e nnadozie and c g makokera, development : ensuring greater african participation, policy briefing 117, economic diplomacy programme, november 2014. p fabricius, institute for security studies, africa should take advantage of the opportunities presented by its seat at the g - 20 table, 9 april 2015. page 3 of 10 supporting african representatives during the negotiating processes of the g20 in order to promote their greater involvement in agenda - setting and therefore greater influence on the final outcomes in areas of priority interest ; and continuously monitoring the implementation of key g - 20 commitments directly relevant to africa in order to ensure that their impact is assessed and to maintain pressure to achieve tangible results. however, while these recommendations are laudable, they require dedicated resources, which may be difficult to mobilise. i would now like to turn to the opportunities for africa under germany ’ s presidency of the g - 20. let me first note that we welcome germany ’ s focus on africa, which builds on efforts by the chinese presidency last year. we believe that this is a step in the right direction in both highlighting and confronting the challenges that the continent faces. as you know, the german federal ministry for economic cooperation and development released a document titled the marshall plan for africa two weeks ago, which proposes a partnership between europe and africa to find solutions to the challenges the continent confronts. the marshall plan for africa acknowledges that ‘ in the long term and as neighbours, we can either prosper together or suffer together ’. i will not say too much about the marshall plan for africa at this stage given that it still requires consultation. indeed, it has been met with great optimism in some quarters but also with scepticism in others. let me rather take this opportunity to focus on one of the components of the marshall plan for africa, namely the g - 20 compact with africa, an initiative in which south africa, through the g - 20, is more closely involved. the idea

also one for institutions operating at the micro - level. we can all make a contribution towards protecting our country from falling in the debt trap of excessive borrowing by applying sound principles in the management of our debt positions.
actors, in accordance with the treaty, consistently pursue their own assignments and responsibilities, is the best possible way to enhance the long - term welfare of the citizens of the euro area. i will be pleased to answer your questions now.

##sight is it now clear that the bis central bankers ’ speeches prolonged period of price stability blindsided policy makers to the cancer of financial instability growing in the underbelly. 12. so that much is now clear. central banks should be mindful of financial stability concerns. but does it necessarily mean that they should take care of it themselves? a review of the pre - crisis institutional arrangements for financial sector regulation across different countries suggests different answers. abstracting from the details, it is possible to see two stylized models. the first is a model where the central bank is just a minder of inflation with no regulatory responsibilities, the rationale being that a central bank will be able to deliver on its price stability objective more effectively if it is not burdened by other responsibilities. the other model is one where a central bank has also some, and in a few cases, the entire responsibility for regulating the financial sector, and hence has an implicit responsibility for financial stability. 13. the experience of the crisis has generated a vigorous debate on whether a central bank can remain immune to financial stability concerns no matter how limited its mandate. using a metaphor which is by now notoriously famous, is the central bank ’ s job confined just to mopping up the mess after the bubble has burst? this is not a totally settled debate, but the dominant view post - crisis is that central banks should have a substantial role in the financial stability function. once again, abstracting from all the nuanced positions, there are three main arguments. ( i ) the first argument is that monetary policy and financial stability are generally interlinked. policies in one dimension have implications for the other. for example, monetary policy can affect systemic risk through the asset price channel. interest rates represent the opportunity cost of holding assets and an accommodative monetary policy can influence credit expansion for financing asset purchases. should this happen in times of excessive optimism, it can lead to asset price bubbles threatening systemic stability. the causation can run in the reverse direction too – policies for financial stability can influence the monetary dimension. for example, as i said earlier, measures aimed at strengthening the resilience of the financial system potentially buttress monetary policy by preventing sharp financial disruptions. this inter - dependency between the two dimensions suggests that the central bank, with inherent responsibility for monetary policy, should also act as a systemic regulator in charge of financial stability. with such a mandate, a central bank can take a holistic view of policy options
emmanuel tumusiime - mutebile : effective regulation will further enable icts to promote financial inclusion speech by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the digital impact awards africa, kampala, 13 august 2015. * * * management and staff of cyberplc and hipipo ( u ) ltd. invited guests ladies and gentlemen it gives me great pleasure to address you today on the topic of “ effective regulation will further enable icts to promote financial inclusion ”. let me once again express my gratitude to cyberplc and hipipo ( u ) limited for organizing the digital impact awards event, and for giving me the opportunity to make remarks at this event for the second year running. last year, i dwelt on mobile money transfer and banking services as an ict - driven development that had had a positive impact on financial inclusion, and the approach that the bank of uganda has taken from a regulatory stand - point. my remarks then may be summarised as follows : 1. mobile money transfer and banking services have had a transformative effect on access to financial services since they were first introduced in uganda in 2009. the number of citizens with mobile money accounts far outstrips those that have bank accounts. 2. financial regulation has two objectives – the mitigation of systemic risk in the financial sector, and the protection of consumers of financial services. 3. the stock of mobile money deposits and the value of mobile money transactions remain a small percentage of total deposits and transactions respectively, and as such they do not pose any systemic risk to the financial system. there is therefore no basis, at this time for the introduction of special regulations for mobile money transfer and banking services to mitigate systemic risks. 4. on the other hand, consumer protection concerns are valid, and motivated the bank of uganda to adopt the regulatory model in which mobile money operators are required to collaborate with supervised financial institutions and maintain an escrow account with sufficient deposits to cover the mobile money that has been sold to their customers. these conclusions remain relevant today. nevertheless, the bank recognises that developments in the industry must be monitored to ensure that emerging risks are identified and mitigated before they are realised. because mobile money transfer and banking services straddle two regulated sectors – that is the financial and communications sectors, the bank of uganda and the uganda communications commission agreed a memorandum of understanding and established the joint working group for mobile financial services ( jwg - m

for listening to me. bis central bankers ’ speeches
is that this is an area which is deserving of greater discourse. evaluating the effects of the banking reforms will be a key exercise. one set of issues revolve around whether the reforms are having the intended outcomes or, on the other hand, whether there are unforeseen and undesirable effects. this will involve an assessment of banks ’ behavioural responses, whether there are new forms of arbitrage strategies, and the spillover effects on the broader economy. cross - border lending to developing economies one example relates to the impact on cross - border lending to developing economies. there are studies that indicate that some global banks have reduced their presence and activities in developing economies as part of their business review, and some have attributed this to the banking reforms. establishing a clear, causal link between the declining trend in crossborder bank loans to developing economies and the post - crisis reforms will be helpful, if possible. such investigations can support the basel committee ’ s work on a full, timely and consistent implementation of the reforms globally. the increasing role of market - based finance in credit provision the decline in bank inflows to developing economies has been partially offset by these 2 / 5 bis central bankers'speeches economies relying more on market - based finance, or non - bank financial intermediation. in my view, this is a positive development since a more diverse funding system comprising bank - based finance and market - based finance can possibly better meet the changing needs of the real economy. 17 but the increased prominence of market - based finance has also led to some concerns that large redemptions from open - ended funds can potentially pose liquidity risks and hence destabilise financial markets. international organisations and standard - setting bodies such as the financial stability board ( fsb ), international organisation of securities commissions ( iosco ) and basel committee have sought to assess the potential financial stability risks posed by market - based finance. the fsb, for example, developed a set of policy recommendations to address structural vulnerabilities of open - ended funds, and iosco is reviewing these recommendations. 19 there can be other related areas that merit further investigation, including from academia. for example, the interaction between market - based finance and traditional asset management activities, and the effect on underlying markets in which these are invested. evaluating the impact of macroprudential policies a key element of the basel iii reforms is its macroprudential framework to assess new system - wide risks and the use of a counter

, 2011. wade, r. emerging world order? from multipolarity to multilaterism in the g20, the world bank and the imf, politics and society, august, 2011. woods n, global governance in the aftermath of the financial crisis : a new multilateralism or the last gasp of great powers? global policy volume 1, issue 1, january, 2010. bis central bankers ’ speeches