samchain/econo-pairs-v2 huggingface dataset:
allowance rather than spending it all ; • making a budget and planning ahead for something you want to buy ; • getting your parents to open bank and credit union accounts for you ; • understanding that interest accumulates and the money grows ; • life is about choices – ( very often it is about the video game or the pair of sneakers but not both ) ; and • you need to understand clearly that borrowing has a cost and that too much borrowing could lead to problems. for you, teachers and principals, i have seen the programme and i promise you that it is designed to teach the kids good habits about spending, saving and other money matters in an exciting, creative and interactive way. the sessions will be facilitated by the junior achievement body of trinidad & tobago ( ja ) and the consulting interface limited ( tcil ), organizations with very good track records in both the primary and secondary schools in trinidad and tobago. in the first phase of implementation, ja and tcil will present their material to a total of 96 primary schools with an estimated 5, 000 standard 2 students from the eight educational districts of trinidad and tobago. this phase is considered a pilot and will run for the current school term. at the end of this phase, the programme will be evaluated and changes made as necessary to enhance its effectiveness. it will then be rolled out to other primary schools. it is our hope that over time, the programme will form part of the school curriculum of all primary schools in the country. similar programmes are being planned for secondary and tertiary level students as well in the medium term. the financing for the programme will come primarily from the central bank and subventions from the government. however, because of its national dimension and to make the programme all - inclusive, we plan to ask the financial firms and other private corporations to collaborate with us in this worthwhile initiative. let me take this opportunity to thank you the principals, teachers, students present today for your implicit support of the programme. you are pioneers in an exciting journey directed towards improving the financial capability of the nation. let me also thank senator the honourable hazel manning and the ministry of education for enthusiastically approving this initiative. i would also like to recognize the commitment and hard work of the management committee of the financial literacy programme whose unstinting volunteer efforts are contributing to make all this possible. kids, as i said earlier, we in the bank are excited about this programme. we hope that we can get you even more excited and that you can spread this excitement

to your friends and parents. if this happens, we are confident that these efforts will redound to the benefit of the population as a whole.
holiday this summer in peace? i never plan my holidays ahead and i only ever go away for a few days. one thing is certain : i will not be going to polynesia. it ’ s too far. so is the euro still in danger? no, absolutely not. from the outside, analysts are seen to be imagining scenarios in which there is an explosion of the euro area. that underestimates the political capital that our leaders have invested in this union, as well as the support of european citizens. the euro is irrevocable! having formerly worked for goldman sachs, what do you think of the libor scandal? it undermines trust in one of the cornerstones of the world financial system. just think that hundreds of trillions of euro of financial operations are based on the libor and that in many countries all over the world people buy their homes with mortgages indexed to the libor. the unspeakable personal behaviour and design flaws have shown once again a faulty governance of the process. two inquiries are under way in the united kingdom and in the united states, as well as an inquiry about the euribor. they must shine a light on these matters. does your time at goldman sachs make you uncomfortable? no, indeed, i value this experience of the world of finance and of the private sector. obviously, there is much to do to rebuild the financial services industry after the crisis. much bis central bankers ’ speeches has been done by the governments, by the regulators and by the industry itself, but much still remains to be done. heads of state and government want to place the ecb at the heart of bank supervision. are you in favour of this? the european commission is responsible for preparing proposals on this in consultation with the ecb and the european parliament. the fact that the central bank plays a role in banking supervision has worked well at national level, particularly in france and italy. if this role fell to the ecb, it would work with national supervisors, counting on their considerable experience and abilities. do you not fear a conflict of interest between monetary policy and this supervisory role? monetary policy must be kept separate from banking supervision so that the former is not contaminated by the latter. you can build an independent structure, and at the same time benefit usefully from information provided by supervision. would such a system have enabled the banking crisis in spain to be avoided? a centralised system is preferable to take account of the very high degree of

emu. in running this relay race, we need to discuss the optimal allocation of responsibilities between the national and european level. but for this not to happen through the back door, we need to open it up to public debate. the yearly european parliamentary week offers a perfect forum in which to bring it forward. thank you very much and i look forward to today ’ s debate. 1 see “ the evolution of the ecb ’ s accountability practices during the crisis ”, economic bulletin, issue 5, ecb, 2018. 3 / 3 bis central bankers'speeches
##ute in its commitment to price stability. with that, let me stop and turn to you for questions.

compensation stays moderate and inflation expectations remain well anchored. given the recent drop in gasoline prices and with futures prices suggesting persistently lower oil prices, the bank expects total cpi inflation to remain noticeably below the 2 per cent target over the coming year before returning to target around mid - 2013. the inflation outlook in canada is subject to significant risks. bis central bankers ’ speeches the three main upside risks to inflation in canada relate to the possibility of higher global inflationary pressures, stronger canadian exports and stronger momentum in canadian household spending. the three main downside risks to inflation in canada relate to the european crisis, weaker global momentum and the possibility that growth in canadian household spending could be weaker. overall, the bank judges that the risks to the inflation outlook in canada are roughly balanced over the projection period. reflecting all of these factors, the bank yesterday maintained the target for the overnight rate at 1 per cent. to the extent that the economic expansion continues and the current excess supply in the economy is gradually absorbed, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2 per cent inflation target over the medium term. the timing and degree of any such withdrawal will be weighed carefully against domestic and global economic developments. with that, tiff and i would be pleased to take your questions. bis central bankers ’ speeches
growth. 3 / 4 bis - central bankers'speeches last year, we had to pause inflation targeting, fix the exchange rate, and restrict capital movement. these measures allowed us to prevent panic in the early months of the invasion and maintain control over expectations, ensuring downward trend in inflation. as a result, we brought inflation close to the pre - war inflation target, the financial system remains stable, the economic downturn has stopped, and gradual recovery has begun. however, in the long term, the exchange rate peg deprives the central bank of the ability to effectively manage inflationary processes and leads to the accumulation of macrofinancial imbalances. ukraine knows this well from the experience of past currency crises. on the other hand, inflation targeting and a floating exchange rate policy from 2016 to 2021 allowed the national bank to ensure relative exchange rate stability, despite noticeable fluctuations in certain periods, reduce inflation and keep it close to the 5 % target. it also helped minimize cyclical economic fluctuations and contributed to economic growth, especially through a steady decrease in interest rates on hryvnia loans for businesses to historic lows. in july, the nbu clearly stated its intentions in the strategy for easing fx restrictions, transitioning to managed flexibility of the exchange rate, and returning to inflation targeting. according to the strategy, the transition to a more flexible exchange rate regime was to take place with the fulfillment of certain prerequisites, and the nbu's steps towards the strategic final goal - going back to inflation targeting - were to be gradual and well - balanced. remaining committed to this strategy, the nbu successfully transitioned to managed exchange rate flexibility in early october when the necessary prerequisites were met. in addition, step by step, we are easing restrictions on the foreign exchange market. we have also started a cycle of gradual reduction of the key policy rate to support economic recovery and see conditions for liberalizing the foreign exchange market and normalizing monetary policy in the future. while following global central banking best practices, we proceed cautiously, ensuring a gradual approach as macroeconomic prerequisites become clear to avoid compromising our achievements. maintaining trust in the national currency, the banking system, and the nbu's policy is paramount. today, our discussion will delve into the role of trust in shaping inflation expectations in ukraine, offering valuable insights for each participant. the war grinds on. we acknowledge the risks and the cost of error. our decisions and actions must be

well - founded and balanced, it requires expert discussion and dialogue. that's why today's event is so important for us. we've assembled strong experts from the imf, ecb, bis, central banks, and academia. i wish everyone to get the most out of this workshop, which will help us all to successfully implement our mandates and return to an era of low and stable inflation. 4 / 4 bis - central bankers'speeches
sada reddy : economic indicators and implications – where to from here? presentation by mr sada reddy, governor of the reserve bank of fiji, to the fiji institute of bankers ’ convention, suva, 23 october 2010. * * * his excellency the president of the republic of the fiji islands, ratu epeli nailatikau, the attorney - general & minister for justice, anti - corruption, public enterprise, industry, tourism & trade and communications, mr aiyaz sayed - khaiyum, the president of the fiji institute of bankers, mr norman wilson, distinguished guests, ladies & gentlemen good morning and thank you for inviting me to speak to you on this occasion of the inaugural convention of the fiji institute of bankers ( fib ). the fib, which will turn 20 years soon, plays a very important role in the training and development of bank professionals in fiji. i must congratulate the fib for this excellent initiative in bringing together professionals and partners from the financial sector as well as stakeholders from the public and private sectors towards a common interest, that is, to establish a vision and strategic direction for the banking sector towards 2015 – the theme of today ’ s convention. i have great pleasure this morning to speak on the topic “ economic indicators and implications – where to from here? ” first i will provide an overview of the current state of the economy and its future outlook, before i move on to outlining the future policy direction for our economy. as bankers, we can attest to the prominent role played by financial institutions in the development of any economy. in fiji, the contribution of the financial sector to total real growth or total value added product of the economy is around 9 percent. as a measure of its size, total assets of the financial sector in fiji is around 180 percent of the country ’ s overall gross domestic product ( gdp ). this ratio has increased from about 150 percent five years ago and shows the increasing importance of the financial sector in our economy. in addition, the financial sector employs around 8, 800 people which accounts for around 7 percent of paid employment in fiji. an efficient and sound financial sector is essential for economic growth. the intermediation process which facilitates the transfer of funds from savers to borrowers, contributes significantly to raising investment, generating income, creating employment opportunities and supporting our economy. as someone said, credit is the oxygen on which businesses grow and survive. therefore, as would be true in other developing

. it is the responsibility of everyone. if we are to improve our quality of life, then each one of us, every worker, business, industry, and government must be committed to the same common goal. thank you.
the height of the crisis. at that time, italy did not. in my view, much more important than the question of where the money comes from is that there is a clear - out in the banking sector. there are too many banks in italy and they are not profitable enough. 3 / 3 bis central bankers'speeches

benoit cœure : low interest rates are not inevitable opinion piece by mr benoit cœure, member of the executive board of the european central bank, in les echos, 9 november 2016. * * * after nearly a decade of crisis, the euro area is once again experiencing growth. in volume terms, gdp now exceeds its 2008 level and the unemployment rate has posted a steady decline. monetary policy has been instrumental in supporting this welcome recovery. but the improvement is too feeble to be a cause for true rejoicing. and some observers are concerned about the consequences of low interest rates on financial stability and profitability in the financial sector. is monetary policy facing an efficiency problem? or is it actually dangerous? the answer is clearly no. let ’ s remember where we ’ re coming from. the euro area experienced a sovereign debt crisis coupled with a banking crisis, which shattered confidence and precipitated a double - dip recession in our continent at a time when other major economies were already recording positive growth. today, high debt levels are still holding back the recovery and non - performing loans weigh heavily on the balance sheets of many of our banks. headwinds have also emerged – this time from the external side – as a result of weakening global economic activity. since 2014, net exports have made practically no contribution to euro area growth. that means that we have only our own strengths to rely on to sustain growth. finally, and most importantly, our economies are suffering the effects of an erosion of long - term growth prospects and a relative increase in the global supply of savings. long - term growth in the euro area has halved since the crisis, to less than 1 % a year. these factors – the origins of which are in part technological and demographic – have played a part in reducing the “ natural ” level of interest rates that is consistent with balanced growth and price stability over a longerterm perspective. this is crucial : to support a given growth trajectory, monetary policy must be more accommodative than before. without our exceptional measures, growth would be weaker, the unemployment rate higher and inflation would be zero or even negative. the ecb will continue to support the recovery of the euro area in an uncertain international climate. a highly accommodative monetary policy remains appropriate, and will continue to be appropriate until inflation is firmly back on track and heading towards 2 %. the side effects of our measures are at present limited and give us no reason to question their
reforms, fiscal, macroprudential and monetary policies. we strongly support the fund ’ s role as the key institution in the global financial safety net ( gfsn ). we welcome the fund ’ s continuous work on reforming its lending facilities and instruments to address potential gaps in the gfsn. we welcome the discussions on the new tools and the introduction of the policy coordination instrument, which could encourage countries to commit to and signal strong national policies. at the same time we believe that further work is needed in order to ensure an adequate and strong gfsn with the fund at its center. we stand ready to engage in an open and constructive discussion on the 15th general review of quotas. the outcome of the review should be broadly acceptable and beneficial for all members. the results should not serve the interests of the largest member countries at the expense of small and medium open economies, as it would threaten the credibility and legitimacy of the fund. to conclude, we face changes in the global economy and live in the environment which requires us to think and operate in the frame of an appropriate policy mix of structural reforms, fiscal, macroprudential, as well as monetary policies. the fund has a crucial role in advising countries and ensuring a smooth transition through cyclical as well as systemic changes. the fund ’ s contribution in multilateral cooperation remains significant and especially relevant when facing possible threats of protectionism. the fund should stay alert to long - term tendencies in the global economy. we stand ready to cooperate. 2 / 2 bis central bankers'speeches

of lithuania has become more actively involved in technical assistance projects. the twinning project with the nbu is the second twinning venture for us. it is also the second one in which we are, as a junior partner, working side - by - side with the nbp. in both cases, we could never have been provided with more competent and professional teammates than our polish colleagues. on my final note, let me wish us all a successful and engaging event today and a rewarding cooperation in the times ahead. i hope to see you all soon in person when we finally put this pandemic in the rear - view mirror. 2 / 2 bis central bankers'speeches
caleb m fundanga : setting new standards for cellphone banking opening remarks by mr caleb m fundanga, governor of the bank of zambia, at the celpay 2010 mobile payments conference, lusaka, 27 october 2010. * * * the chief executive officer celpay international bv the managing director – zain zambia limited managing director, celpay zambia ltd, mr miyanda mulambo the conference chairperson, mr maxwell banda representatives of commercial banks and financial institutions present representatives of international organizations present representatives of zambian business associations distinguished invited participants members of the press ladies and gentlemen, it is an honour and privilege for me to officiate at the 2010 mobile payments conference. this year ’ s conference follows the success of the inaugural 2009 conference and it is therefore my earnest anticipation that as in 2009, you will find the 2010 conference productive and beneficial. the conference provides an excellent opportunity for the exchange of views and sharing of ideas on how to continuously improve the functioning of our financial systems against the backdrop of the global financial turmoil. mr chairman, allow me to begin by commending celpay zambia limited, for making the mobile banking conference an annual event. i hope that the conference will provide a forum for long - term collaboration in the area of mobile banking to provide sustainable banking solutions to our people. the bank of zambia applauds this initiative which is collaborative and consultative. it is only through such collaboration and consultation involving key stakeholders that we are able to improve our local situations as we seek to have a stable macroeconomic environment and an inclusive financial system. these are preconditions for achieving economic development and accordingly, one of the principal tenets of economic development is access to financial services. in this regard, a national payment systems development has a fundamental role to play to enhance access. chairperson, i have noted that the theme for this year ’ s conference, “ setting new standards for cellphone banking ” is very fitting for zambia as we face the challenge of ensuring that the majority of our adult population has access to formal financial services. as you may be aware, a large component of the work being undertaken under the financial sector development plan ( fsdp ) and the national payment systems vision and strategy 2007 – 2011 is focused on improving financial access and contributing to the establishment of inclusive financial markets in general. the recent finscope survey revealed that only 37. 3 % of the adult population have access to formal financial services leaving 62. 7 % of adult population financially excluded. although

innovation that may have significant macroeconomic benefits to all involved. we are therefore keen to draw on the policy debate arising from this conference to move financial services in zambia to new frontiers. as bank of zambia, we will play a catalytic role and facilitate private sector led developmental initiatives. i thank you.
that “ they do not have enough technical resources to deliver their ifrs 9 project ” and almost 25 per cent of the respondents did not think that “ there will be sufficient skills available in the market to cover shortfalls. ” the worst case scenario is that the bank ends up, after 1 january 2018, with the subsidiaries and branches of international banks successfully implementing ifrs9 while the domestic and smaller banks are unable to do so. thank you for your attention. 3 / 3 bis central bankers'speeches

venture capital funds is being considered. measures have also been adopted to promote the use of simple, transparent and standardised securitisations in order to provide bank lending to small firms. these examples evidence the complementarities between bank markets and capital markets, and also how the banking union and the capital markets union reinforce one another. turning to equity markets, progress has been made to provide firms with access to these markets. further, many studies have been undertaken to identify the obstacles to international investment. yet, in order to equip the euro area with greater stability, resolute headway must also be made in european bank integration. pan - european banks are an essential requirement if we are to have a single market for wholesale and retail financial services. that will provide both for gains in efficiency and cost reductions in banking services. and, moreover, it would contribute to improving the euro area ’ s stability in the face of shocks. in this respect, the culmination of the banking union with its three pillars and the subsequent creation of pan - european banks would also enable the link between sovereign risk and bank risk to be substantially mitigated. there has been significant progress on the first two pillars, the single supervisory mechanism and the single resolution mechanism. but the third pillar – the creation of a european deposit guarantee scheme – remains pending. in conclusion, in europe, and in spain in particular, we have witnessed a phenomenon of greater disintermediation in recent years. associated with it is a more significant role for capital markets when it comes to providing financing for the economy and channelling citizens ’ savings. in parallel, technological change conducive to disintermediation is under way, and is prompting the creation of new services and risks that must be addressed by the supervisory community. to harness these market trends so as to promote the soundness and stability of economic and monetary union, resolute progress must be made towards the greater european integration of banking markets, fomenting at the same time the development and integration of capital markets throughout the union. thank you. 7 / 7