samchain/econo-pairs-v2 huggingface dataset:
excluded from or added to the cpi index, what new statistics and refinements in data ( including information on stock market indicators and real estate prices ) might be needed for developing model and analytical framework for inflation forecasting. there will be need for introducing supportive legal and regulatory framework which allow for targeting inflation and allow greater operational independence to the central bank, while ensuring that sbp has the desired transparency and communication strategy critical for transition to an eventual adoption of inflation targeting. as discussed in zaidi ( 2005 ).

grip on market gaps and interbank activity, thus strengthening the market management capability and sbp's forecasting capacity. between apr - dec 2005, not only omos have been conducted both ways, but with a greater flexibility of tenors and frequency. additionally, being active in the swap market has helped sbp treasury to mop - up / inject usd / rupee liquidity in the money market, as and when required, thus complementing the monetary management. this has resulted in managing excessive market volatility, providing effective signals / direction to the market and to set benchmarks for the rupee inter - bank market in line with the monetary policy stance. consequently, o / n rates now move within a 100bp – 150bp range compared to previous trends when it fluctuated between zero to 9. 0 %. iii. monetary outlook for 2006 and associated challenges. current fiscal year is an important departure from the preceding few years ’ monetary stance and trends observed. after 3 - 4 years of lax monetary policy, pakistan faced significant monetary overhang since the growth in broad money supply every year exceeded the growth in nominal gdp. since the second quarter of 2005 monetary policy was tightened as the headline inflation, measured by consumer price index ( cpi ), reached close to 11. 1 in april 2005 - edging beyond the yearly target of 8 % with wholesale price index ( wpi ) pointing to the risk of moving to double digits. it has to be further recognized that given structural issues, the inflation threshold for developing countries is high inflation in excess of 8 - 12 % is found to hurt economic growth. 1 to start off, sbp raised discount rate to 9 % in april 2005 which generated an uptrend in interest rates on t - bills auctioned and sharpened its yield curve : 3 months tbill rate rose from 4. 3 % jan 05 to 8. 1 % by mid april 2006, 6 months 4. 3 % to 8. 3 % and one year from 5 % in early 05 to 8. 8 %. has this monetary tightening achieved the desired results i. e. of curbing inflationary pressures? latest trends of cpi are comforting but reveal different levels of deceleration across cpi categories and point to lingering concerns whether the deceleration will continue and / or if the decline in cpi and its components is there to stay. some numbers are illustrative of this concern. • while cpi had dropped to 6. 9 % yoy by march 2006
unnati - access to finance ( a2f ) partnerships launch ceremony with bfis closing remarks by dr. chiranjibi nepal, governor, nepal rastra bank 8 may 2017 hotel yak and yeti, kathmandu ms. valerie julliand, un resident coordinator, ms. ingrid dahl - madsen, charge d'affaires, embassy of denmark, mr. vincent weirda, regional technical advisor, uncdf, mr. shiba raj shrestha, deputy governor of nepal rastra bank, officials from government of nepal and other agencies, officials from nepal rastra bank ceos and representatives from banks and financial institutions, friends from the media, distinguished guests ladies and gentlemen it gives me immense pleasure to be here at this challenge fund partnership launch ceremony of unnati - access to finance program with different bfis. allow me, at the outset, to extend my sincere appreciation to the embassy of denmark and uncdf for supporting the government of nepal by launching this project that aims at expanding financial access to the rural people and help raise their living standards and ultimately reduce the poverty level in the country. distinguished guest, ladies and gentlemen, financial access broadly refers to the reach of financial institutions and their products to the doorsteps of the people throughout the country. this would create opportunities for the people to involve themselves in in - come generating activities and hence improve their wellbeing. as some 80 percent of nepalese population live in rural areas and about two - thirds of them rely on agriculture, extending financial services to the rural people is especially meaningful for inclusive growth of nepal. acknowledging this need, the government of nepal and nepal rastra bank have long been undertaking a host of policy measures to increase access of financial services to the rural areas through different modalities. one such modality is project financing under which government of nepal and nrb have been working with different bilateral and multilateral donor agencies to implement different projects. unnati - access to finance is one such project that is supported by government of denmark along - with united nations capital development fund ( uncdf ). the 5 - year project ( 2014 - 18 ) is being implemented by nrb in the 7 hilly districts of eastern development region ( edr ) by supporting bfis to more effectively serve the agricultural value chain actors with appropriate financial products and services. consequently, it also aims to enable smallholder farmers and micro small and medium enterprises ( msmes ) to invest into their agriculture value chain activities leading to

any concerns and ideas you have. the federal reserve is committed to tailoring its supervisory practices as appropriate for community banks to reduce unnecessary burden, while still ensuring that community banks continue to operate in a safe and sound manner. i am looking forward to our conversation today and, in particular, am interested in hearing about topics that are of importance to you as you work to serve your customers, meet the credit needs of your communities, and thrive. bis central bankers ’ speeches
, gdp is expected to grow by around 1¾ % per year on average over the forecast period. while modest by historical standards, the projected pace of gdp growth over the forecast is nonetheless slightly faster than the diminished rate of supply growth, which is projected to average around 1½ % per year. recall that the mpc now publishes all of its key assumptions about supply. in the mpc ’ s central projection, a small margin of excess demand emerges by early 2020, feeding through into higher rates of pay growth and domestic cost pressures. although inflation is projected to fall further over this year as the impact of sterling ’ s past depreciation continues to wane, building domestic inflationary pressures mean inflation settles at the 2 % target around mid - 2020. as the mpc has stressed, were the economy to develop broadly in line with the may inflation report projections, an ongoing tightening of monetary policy over the forecast period would be appropriate to return inflation sustainably to its target at a conventional horizon. one simple way to illustrate the potential need for modest rate rises is to look at the committee ’ s projection conditioned on a constant rate. in it, excess demand increases to close to 1 % of gdp three years from now and inflation is well above target at 2. 4 % at years 2 and 3 ( chart 10 ). all speeches are available online at www. bankofengland. co. uk / speeches chart 10 : with no monetary policy tightening, excess demand builds significantly and inflation remains above target may 2018 inflation report projections for inflation and growth per cent / per cent of potential gdp 4. 0 3. 5 inflation projection market conditioning path inflation projection constant rate path 3. 0 2. 5 2. 0 2 % inflation target excess supply / demand projection - constant rate path 1. 5 1. 0 0. 5 0. 0 excess supply / demand projection - market conditioning path - 0. 5 - 1. 0 of course, as the committee has made clear before, its guidance about the likely gentle path of rate increases depends on the economy evolving broadly as expected – in particular, whether growth in demand exceeds that of supply. that might not happen. for example, the weakness in demand at the start of the year could reflect a worsening of the underlying economic climate, not the temporary effects of adverse weather as the committee currently assesses. in particular, there is somewhat greater uncertainty about the near - term momentum in consumer spending at present, given recent weakness in consumer credit and the housing market across

to the internet, to make it a habit to visit the bank of zambia website on a regular basis. further, the bank will provide excerpts from the banking and financial services act to provide some highlights on some of the consumer protection provisions in the law. i thank you.
and a regulatory system will be improved in line with the degree of financial opening - up, to safeguard financial security, and improve the overall quality as well as the competitiveness of the financial sector. ladies and gentlemen, with the end of wto transitional period, opening - up of the financial sector will reach a new stage. the chinese economy will continue to realize its huge potential. we will move on with the reform, openingup and development of the financial sector, and create a favourable environment for domestic and foreign financial institutions, so that the financial sector can make even greater contribution to the development of a socialist market economy in china. thank you.

both online and offline. that said, however, the legitimate demand for paper cash as a means of fully anonymous payments will be met at all times. it is also important to keep in mind that anonymity and full disclosure are not as simple as black and white. there are many subtleties in between. therefore, we must strike a delicate balance between protecting privacy and combating illicit activities. 1 / 2 bis - central bankers'speeches right now, we are working together with the hkma and some other monetary authorities on cbdc. we hope such cooperation will better serve both global and domestic investors and help to enhance hong kong's role as an international financial center. looking ahead, we stand ready to deepen cooperation on cbdc with other monetary authorities as well as international institutions. thank you! 2 / 2 bis - central bankers'speeches
of the crisis. according to our estimates, we consider that the potential for monetary policy easing has been exhausted. its further easing could additionally increase proinflationary risks. nonetheless, monetary policy will remain accommodative on average throughout 2021, supporting the recovery of the russian economy. the baseline scenario provides for a gradual return to neutral monetary policy. we will assess the timeline and pace for this return taking into account our goal to maintain inflation at our target. 3 / 3 bis central bankers'speeches

in demand, that is, provoke disinflationary risks. this is exactly what happened in the second quarter of 2020. however, the experience of the subsequent waves of the pandemic has proven that restrictions are impacting demand increasingly less, whereas supply contracts when enterprises are forced to suspend operations. we consider that restrictions rather have a proinflationary influence now. the industries that directly depend on restrictions, primarily services, will be affected most considerably. the government has introduced support measures to aid the most vulnerable industries, first of all small and medium - sized enterprises and their employees. the bank of russia, on its part, has allocated a limit of 60 billion rubles within a special 4 % refinancing programme for the banks that would issue loans on preferential terms to small and mediumsized enterprises affected by restrictions. we have also recommended that banks and microfinance organisations should approve 3 / 4 bis central bankers'speeches restructuring applications for those individuals and entrepreneurs who need this. i will now speak about our future decisions. it has become more probable that the level of the key rate will be higher, and the period during which the key rate might stay at this elevated level will be longer than we assumed in our previous forecast. according to our baseline forecast, the key rate will average 7. 3 – 8. 3 % per annum next year, and 5. 5 – 6. 5 % per annum in 2023. in other words, the key rate will return to its long - term neutral range no earlier than in the middle of 2023. thank you for attention. 4 / 4 bis central bankers'speeches
week will be a bridge for further exchange and cooperation between shanghai and various international financial centers and contribute to the harmonious economic and financial development in the world.

and deepened financial reforms to facilitate high - level opening - up. in fulfilling the duties of the fsdc office, we further strengthened the coordination of financial regulation, advanced the market - based reform of interest rates and rmb exchange rate, kept improving the framework of macroprudential regulation, enhanced the quality and efficiency of financial services and rolled out a series of measures to facilitate trade and investment. furthermore, we sped up the implementation of unveiled measures for financial opening - up and made remarkable achievements in international exchanges and cooperation. propelled by financial reform and opening - up, we forged ahead on the way to win the three critical battles. to be specific, we made efforts to forestall and defuse major financial risks and put up a robust financial safety net ; we provided financial support for targeted poverty alleviation to ensure that no one is left behind on the way towards a moderately prosperous society in all respects ; and we fostered a green finance system to act on the principle that “ lucid waters and lush mountains are invaluable assets ”. while making solid progress in our work, we also cared for the physical health and mental wellbeing of our staff members and the growth of young colleagues, as health is the foundation of everything. during the combat against the pandemic, we were not only concerned about the safety of those on the frontline, but also paid close attention to the health of all staff members. we required pbc branches, sub - branches and institutions at all levels to provide anti - pandemic supplies and put in place a mix of strict prevention and control measures, so as to defend all staff members against the pandemic. to our delight, in the face of the pandemic, our young colleagues have kept firmly in mind the instructions and expectations of general secretary xi jinping for them to take on heavy duties in the face of difficulties and meet the most urgent needs of the party and the people. you have lived up to our expectations. we have seen your potentials. we are proud of you! winter will eventually pass, and spring is sure to come. as the year of 2021 marks the commencement of the 14th five - year plan period, we will embark on a new course of building a modern socialist country in all respects. we will renew our efforts at a new starting point. we should unite around the cpc central committee with comrade xi jinping at the core, continuously enhance the “ awareness of maintaining political integrity, thinking in big -
, 2. 4 per cent in 2009, and 3. 3 per cent in 2010. the emergence of excess supply in the economy should keep inflation below 2 per cent through 2009. both core and total inflation are projected to move up to 2 per cent in 2010 as the economy moves back into balance. there are both upside and downside risks to our new projection for inflation ; these risks appear to be balanced. in line with this outlook, some further monetary stimulus will likely be required to achieve the inflation target over the medium term. given the cumulative reduction in the target for the overnight rate of 150 basis points since december, including the 50 - basis - point reduction announced last week, the timing of any further monetary stimulus will depend on the evolution of the global economy and domestic demand, and their impact on inflation in canada. with that, paul and i would now be happy to take your questions.

our judgment at this time that the risks around achieving our inflation objective over a reasonable time frame are roughly balanced. accordingly, we believe that the current level of monetary stimulus remains appropriate. some of you may be wondering why we aren ’ t being more specific about the likely future stance of monetary policy. let me answer by saying that forward guidance remains a key element of the policy tool kit – but one that we will reserve for times when we believe there are net benefits to its use. there will no doubt come a day when we will offer forward guidance again – but not this day. and with that, carolyn and i would be pleased to answer your questions. bis central bankers ’ speeches
amando m tetangco, jr : promoting good governance and corporate social responsibility in the philippines speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( the central bank of the philippines ), for the opening ceremony of the 29th biennial convention of the federation of filipino - chinese chambers of commerce and industry, inc. ( ffcccii ), manila, 22 march 2013. * * * introduction officers and members of the federation of filipino - chinese chambers of commerce and industry incorporated ( ffcccii ), led by its president, mr. tan ching and chairman emeritus, mr. lucio tan, distinguished leaders and members of the business community, honored guests, ladies and gentlemen, good afternoon. it is a pleasure to grace the 29th biennial convention of the ffcccii and address an audience representing the largest organization of filipino - chinese businessmen. the theme of today ’ s event, “ tuwid na daan towards peace, unity and prosperity ”, is very much aligned to the thrust of government which is centered on good governance – a governance environment marked by transparency, accountability and enhanced citizens ’ participation to attain sustainable and inclusive growth. the bsp also shares this vision. good corporate governance encourages investments which allow the expansion of the economy with minimal inflation pressures. good governance is also the foundation of a safe, stable, and sound financial system. it is most welcome that the private sector, like the ffcccii, fully supports the government ’ s programs and thrust on good governance. indeed it is easier to reach a destination by passing a “ tuwid na daan ” rather than “ daan na madaming liko at baku - bako ”. this means, time and resources well spent, especially for businessmen like you. di po ba? favorable economic growth prospects by multilateral institutions 2012 was an auspicious year for the philippine economy. notwithstanding the risks arising from a volatile global economic environment, the philippines emerged stronger - thanexpected. with the continued resilience demonstrated in recent years, some are even beginning to consider the philippines as an emerging tiger economy in asia. a decisive transformation from being once tagged as “ the sick man in asia ”. the complimentary reviews are reflected in the upward revisions made by multilateral institutions such as the international monetary fund ( imf ), the world bank ( wb ) as well as the asian development bank ( adb ) on the philippines ’ gdp growth

you for joining us today and good morning. 1 / 1 bis central bankers'speeches
course, there is so much money [ to be made ] from scamming and cheating. we must always cooperate. we must have campaigns. with that, i thank you for inviting me to your general membership meeting. i look forward to future collaboration with fintech alliance. ph. maraming salamat po, at mabuhay po tayong lahat. 5 / 5 bis - central bankers'speeches

system will reduce manual process resulting in reduction of turnaround time ( tat ) and facilitate improved data analytics for use by stakeholders. further, cms has an awareness module on the front page containing information materials in audio, video and text formats. the role of banks / fsps let me now turn to the role of banks / fsps. all financial entities have a special relationship with their customers and thus, it is their duty to recognise issues raised by them in their financial transactions and provide a fair redressal of their customer grievances. banks / fsps need to maintain transparency in pricing, service charges, fees, and penalties. banks / fsps not only need to make sufficient disclosures on all aspects of their functioning and operations but also need to play a proactive role in educating customers on the products offered, the operational techniques, risks involved, safeguards and redressal options available. liability for customer losses due to lapses on the part of banks / fsps should lie with the latter. the reserve bank guidance on limiting customer liability in unauthorised electronic banking transactions targets this perspective3. more important than compensation, however, should be on ‘ prevention ’ through awareness initiatives. this would also help minimise complaint origination at the bank / fsp level and reduce complaint clogging at the ombudsman level. as i have mentioned earlier, i would like to add that the reserve bank has issued guidelines last year strengthening the internal ombudsman scheme in banks. while it is envisaged that the ios appointed by the banks would be independent in their functioning ; it is imperative that banks understand that all complaints which are partially or wholly rejected by the banks must necessarily pass through the desk of io before final closure. i am sure the banks are taking steps to appoint adequate number of ios, in line with the volume of complaints received by them as provided in the scheme. a critical aspect of consumer protection that calls for dedicated attention within banks / fsps is management engagement. top and senior management in charge of grievance redressal need to take responsibility for the performance and robustness of the redressal framework and engage through deep involvement, close monitoring and oversight of issues involved. they and their staff, need to be driven by ‘ true service ’ sentiments. customer service and consumer protection should not be relegated to the sidelines by goals driven by hard targets and sales related incentives for on - boarding customers. banks /