samchain/econo-pairs-v2 huggingface dataset:
in machinery, equipment, and technology. we may now be starting to see the payoff of these efforts, in the form of some larger productivity gains, which i hope will grow and continue, thereby providing the basis for improved standards of living for canadians in the future. all in all, the prospects for our economy are very positive. if these prospects are realized, we will also see a stronger canadian dollar over the medium term.

to technological innovations, particularly in electrical machinery. however, price differentials between home and abroad have narrowed, and the general sense of weak supply and demand conditions for products has receded. thus, the bank will monitor more closely future developments in domestic and overseas supply and demand conditions, as well as in the foreign exchange market. 5. in sum, private demand has firmed in a virtuous cycle as growth in production is accompanied by growth in incomes, supported partly by the yen ’ s depreciation which augmented corporate profits and net exports. thus, although economic growth will slow down temporarily in the first half of fiscal 1997 with the reversal in the stepped - up demand ahead of the rise in the consumption tax, chances are improving that economic recovery turns out to be sustainable. however, the extent of the negative effects caused by the rise in the consumption tax rate, including the reversal in the stepped - up demand, has yet to be confirmed. also, balance - sheet adjustment pressures may continue to restrain the economic recovery. in these circumstances, promoting effective reforms of japan ’ s economic structure is an important ingredient in the efforts to strengthen the basis for recovery in private demand as well as the basis for a medium to long - term growth in japan ’ s economy.
affected by the contractionary effects of the lift in world interest rates. as the forecasts i mentioned in the beginning show, the year ahead will most likely be one of slightly reduced growth, and somewhat higher inflation, compared with the exceptional outcomes of recent years. but if we can sustain the economic expansion through a tenth and eleventh year, even if its pace moderates for a time, and at the same time keep inflation low, we will have achieved something which has eluded us for three decades. that is a very worthy goal. it is what we aim to do.

problems faced by banks in gathering individual borrower level information of shgs as loans under the shg bank linkage program was given by the banks directly to the shgs and not individually to its members. the disbursement of loan funds is done at a member level only within a shg ( by the shg internally ) and the respective quantum / tenors of the same is decided by the group, from time to time. this financial flexibility provided to the group is an inherent feature of the shg structure. however, the committee has emphasized that to assess the ability of individual members to repay, it is necessary to consider their prior borrowings, else it might result in their becoming over - indebted and consequent default in repayment of loans. it therefore recommended that banks may be required within a reasonable period of, say, eighteen months, to arrange for capturing the required data from shgs for reporting to cics. 23. the present regulatory framework only mandates nbfc - mfis to share their clients ’ data with cics. ngo - mfis which include section 25 companies, societies, trusts, etc. play a significant role in the micro finance sector, however they are not yet mandated to share their data with credit bureaus, though some ngo - mfis are voluntarily participating. some study shows sizable overlaps between shg bank linkage and mfi clients. this indicates the severity of over - indebtedness / ghost borrowing, asymmetric information, moral hazard, etc. 24. another prospective area where credit information can help is in respect of those companies that supply vehicles and equipment on operating lease to users ( lessees ) on payment of a periodical rent by them. the lessee in case of a vehicle lease has to pay a fixed monthly cost and can use the vehicle for a defined period and mileage and has to return the vehicle to the company at the end of the contract. since the company providing such a digital banking – opportunity for extraordinary gains in reach, service and productivity in the next 5 years, september 2014. bis central bankers ’ speeches facility to its clients takes a credit risk on them at the time of entering into such a contract till the time the lease is in vogue, it needs to assess the credit worthiness of the lessee. presently such vehicle leasing companies are not being regulated by rbi or a financial regulator in india. we would examine whether such leasing companies can be specified under the credit information regulations
to come, we are turning again to many of the same voices we heard from earlier to learn how the covid pandemic has affected your communities and what lies ahead. 1 / 1 bis central bankers'speeches

our " fintech 2025 " strategy, we have been expanding the fintech - savvy workforce through a series of internship and industry programmes such as the fintech career accelerator scheme ( fcas ) and the industry project masters network ( ipmn ) scheme. these programmes have nurtured more than 1, 500 young talents so far, and we are pleased to see that the 1 / 3 bis - central bankers'speeches majority of them have continued their careers in the finance and fintech industries upon graduation. the hkma recognises the tremendous potential of collaborative efforts between the industry and academia to develop a sustainable local talent pipeline. to this end, the hkma has cooperated with various strategic partners, including bloomberg, to grow allround talent, through a series of initiatives, including the gba fintech talent initiative. when it comes to fintech and talent development, we should definitely leverage our inherent strengths and opportunities, including our connection with mainland china, especially the gba, which has been recognised as an emerging economic, financial and technology powerhouse. by capitalising on the connection with other gba cities, hong kong can tap into new opportunities by importing technology expertise, market experience and entrepreneurial flair, while enriching our own talent pool. this gba integration allows for seamless collaboration, facilitating knowledge transfer and the sharing of best practices across the boundary. in recent years, cross - boundary collaboration has become a key driver of fintech development. our flagship project, the multi - cbdc platform mbridge is a very good example. launched in partnership with the digital currency institute of the people's bank of china ( pboc ) and two other central banking institutions, mbridge aims to deploy blockchain technology to address key pain points in cross - border payments to make them cheaper, faster and more transparent. the hkma is also working closely with the pboc to establish a cross - boundary linkage between hong kong's faster payment system ( fps ) and the mainland's internet banking payment system ( ibps ) to facilitate instant small - value cross - boundary remittances around - the - clock. beyond public sector partnerships, the private sector is increasingly engaged in crossboundary collaboration, with fintech firms and financial institutions playing important roles in innovative product development, cross - boundary payments, digital banking, trade financing, and more. with the gba positioned as a hub for fintech, professionals in this field can antici
and in this regard, the government through the world bank funded financial sector technical assistance project ( fstap ), plans to automate trading on the exchange are at an advanced stage. it is envisaged that successful implementation of these projects will enhance market efficiency, improve market visibility and increase market liquidity. in addition to allowing efficient trading and settlement, the systems will enable surveillance and risk control by many market participants. another development in the pipeline is a central securities depository system for corporate equity and debt instruments to provide electronic issuance and custody of financial instruments to enable efficiency, reliability and security of the transactions in the market. i am in no doubt that as the government continues to pursue sound macroeconomic policies ; 3 / 4 bis central bankers'speeches coupled with implementation of the electronic systems and other capital market growth strategies pursued by market participants, the exchange and capital markets in general are poised to contribute to the growth and development of the economy. with these few remarks. i hope that i have earned the right to offer the registrar ’ s congratulations to the exchange on its 20th anniversary. allow me to acknowledge the commitment and hard work of the board of directors, management and staff of the exchange, and all the market participants for bringing the mse to where it is now. this anniversary celebration is well deserved. i wish all of you well. and may god bless malawi. i thank you. 4 / 4 bis central bankers'speeches

chambo ” fish dish as well as taking a cruise on the lake. i wish you fruitful deliberations. it is now my pleasure to declare the 2007 sadc ict forum conference officially opened. i thank you all for your attention. god bless us all.
ilmars rimsevics : standing firm against manipulations with lats'exchange rate article by mr ilmars rimsevics, governor of the bank of latvia, published in the daily diena on 16 february 2007. * * * economists are currently discussing ways to improve the ability to compete of the latvian economy and they are right to do so because it is being undermined by high inflation. morten hansen from the riga school of economics has also devoted this issue a great deal of thought, sharing some of his insights with the readers of the newspaper diena ( 10 february ). the latvian economy is still the fastest growing economy in the european union and that should make us happy because our standard of living is raised. the downside, from the macroeconomic perspective, is that the speed at which we are traveling can be compared to driving at 200 kilometers an hour, because it is accompanied by high inflation, record high prevalence of imports over exports ( current account deficit ), decreased ability to compete, a fast growing foreign debt. for quite a while now, the main problem of the latvian economy has been the overly high domestic demand that exceeds supply ; the economists call it “ overheating ” of the economy. the budget deficit is also too high for this juncture in our economic development : we are not saving for the moment when the pace of the economy will abate. estonia, where the situation is very similar, last year recorded a budget surplus of 3 % of gdp. ) if we fail to have a firm grip on the steering wheel and we dismiss the danger of driving too fast, our breakneck speed can land us in a ditch! we can only regret that mr. hansen has not applied his theoretician ’ s savvy to come to the aid of the latvian economic policy makers : to specify the list of tasks that would allow the excessively rapid development to slow down so that latvia would continue to develop in the long term with a yearly growth of 6 - 7 % instead of running the danger of overheating as is obvious from the estimates of the last quarter of last year. it would have been wonderful if mr. hansen had made use of his teaching skills, which involve the ability to get things across with ease, to remind us that in the marathon distances – in our case, approximating the level of european standard of living – sprinter ’ s tactics are of no use. in such a list, there would be tasks that produce immediate

banks ’ balance sheets much more closely than was the case before the crisis. in the absence of global and eu reforms, the size of a national banking system relative to gdp will be a matter of concern. this will require tools within a macroprudential framework to affect the size of the banking system. work is needed in this area. let me conclude by saying that, although i have focused on the fault lines and risks in crossborder banking in my remarks today, we should be aware that financial globalisation has important benefits. this gives us all the more reason to find ways to mitigate the risks. bis central bankers ’ speeches
and to as low as 13 % for the 18 - 34 age group. 1 customer journeys are becoming increasingly digitalised : france currently has the highest rate of usage among large european countries for internet banking services ( 69 % of customers ). 2 but, beyond customer relationships, financial companies need to take a more comprehensive approach if they are to succeed in the digital transition - placing innovation at the heart of their strategic management, as well as rethinking their business models. these are difficult choices that naturally need to be taken by the companies themselves ; the answers are not easy or uniform, but i would like to share with you a few avenues for thought. in the case of banks, it is important that they rethink their sources of income : one response could be to diversify the range of services – both proprietary and via partnerships – that they offer to customers, and possibly change existing pricing policies, with fewer flat - rate prices and more pricing by use. the digital transition will also involve preparing for shifts in jobs and in skills, through dialogue with social partners. it will also require adopting an open approach, with the creation of partnerships with fintechs and the scientific community. finally, it will call for major it investment to provide services that are increasingly aligned with customer needs, to reduce structural costs and improve regulatory compliance. it systems will need to be – and this is the crux of the challenge – more secure so that they provide strong protection against cyber - risks, but at the same time more flexible and open to interconnectivity. in the case of insurers, the digital revolution is also starting with a complete overhaul of customer relationships and user habits. but it goes further than that. i ’ d just like to underline two topics that i think are essential. first, with the help of reinsurers, insurers need to be capable of meeting demand for coverage against cyber - risk, a concern that affects all companies – both small and large. yet in 2015, fewer than 5 % of french companies and 6 % of individuals had some form of cyber - insurance. 3 insurers can and should take inspiration from their own experiences in tackling cyber - risk, and use it to develop a more mature sources : federation bancaire francaise ; observatoire 2016 de l ’ image des banques, published by bva and based on a survey conducted in may 2016, and observatoire 2015. 2 source : european commission ’ s

the european commission. and the banque de france and acpr are both playing a part. europe depends on it ; its independence from the other big global regions depends on it ; and so too does the strength of its economy. my message is clear : we, as regulators, regard innovation as key. within europe, france has many strengths that can make it a leader in the digital transition. you are the driving force in this, with your audacity and your successes ; it is up to us – the banque de france and the acpr – to ensure that we are capable partners - vigilant when necessary and always openminded. rest assured we are fully mobilised towards this goal. thank you for your attention.
exchange rate volatility, or they can aim to maintain exchange rate stability, accepting that that may destabilise their respective domestic economies. these are the horns of the uncomfortable dilemma we have been on. i have no doubt, in terms of the macro - economy as a whole, that we have been right to persist in aiming to stabilise our domestic economy - the facts speak for themselves. it is possible - even perhaps likely - that our dilemma may now become less acute, at least for a time as the euro strengthens to a more sustainable level. our best chance of maintaining that happier position - if indeed it occurs - is to persist in domestic stabilisation and structural reform alongside our european partners, but it is difficult to be confident at this stage that the dilemma will not re - emerge.

treaty. it would have been a bis central bankers ’ speeches consequence of the central bank renouncing to apply strictly and in full the provisions of the treaty. the ecb ’ s support for greece is based on its statute but also on the assumption in the treaty that the status of each member of the euro area remains inviolate. indeed, the same conviction and the same independence from the political process led us in the summer of 2012, when the sovereign debt crisis endangered the integrity of the euro area, to resolutely declare our determination to defend the single currency. to sum up, the balance we achieved with our interventions during the greek crisis was fully within our mandate ; it respected the political commitment to the single currency contained in the treaty, but at the same time we implemented that commitment within the limits of our statute. conclusion the ecb ’ s response to the exceptional challenges posed by the crisis has preserved the integrity of money in the euro area. monetary stability is however only one necessary condition for the prosperity of the economy. indeed, so much attention has been paid to our commitment to a sound currency that, to paraphrase galbraith, little thought has been given to other things. we must now look ahead, and move from stability towards prosperity. we need a new pact that prevents the re - emergence of the type of challenges we have addressed, and that above all strengthens the constitutional architecture of the euro area. this is not a new conclusion. it was already reached in the summer of 2012, when the european council mandated the president of the council, the commission, the eurogroup and me, and subsequently the president of the european parliament, to outline a credible path that completes our monetary union and makes it “ more perfect ”. since then, we have made various proposals, all of which go in that direction. i hope that what i have said to you today will convince you of the urgency of this reflection, of the need to turn it without undue delay into an institutional process able to secure concrete results, in line with a clear calendar for action. this is a long and complex journey which can only be based on the strong determination of the member states. bis central bankers ’ speeches
that the downturn we are having may turn out not to be one of the more serious ones of the post - war era, in contrast to the experiences of so many other countries. it is becoming more common for australians to see the glass as half full than as half empty. put another way, we can much more easily imagine upside risks to the outlook, to balance out the downside ones, than was the case six months ago. so far, so good. but what challenges lie ahead? and how should we respond to them? just as it would have been a mistake nine months ago to write - off our long - term economic prospects at the height of the financial turmoil, it would be a mistake now to lapse into the comfortable assumption that easy prosperity will come our way. the pace of global growth, and the easy availability of credit, seen in the period up to 2007 was not the norm. it is unlikely to be seen again any time soon. the path to economic health for the major countries of the world will still be a difficult one, because the legacy of the crisis will cast a shadow for some time. major international banks will remain diminished in stature and balance sheet capability, and will be required to devote more capital to their strategies in the future. if global regulators have their way, the world will be characterised by less leverage, and scarcer and more expensive credit, than in the earlier period. we here in australia have to accept that fact and accommodate it in our thinking. one thing this presumably means is that the prominence of household demand in driving the expansion from the mid 1990s to the mid 2000s should not be expected to recur in the next upswing. the rise in household leverage, the much lower rate of saving out of current income, and the rise in asset values we saw since the mid 1990s, are far more likely to have been features of a one - time adjustment, albeit a fairly drawn - out one, than of a permanent trend. moreover the risks associated with those trends going too far are apparent from events in other countries. these risks have been reasonably contained so far in australia – but it would be prudent not to push our luck here. a very real challenge in the near term is the following : how to ensure that the ready availability and low cost of housing finance is translated into more dwellings, not just higher prices. given the circumstances – the economy moving to a position of less than full employment, with labour shortages lessening and reduced pressure

, make further progress towards full employment, and achieve the inflation target over time. thank you for listening. i look forward to answering your questions. endnotes [ * ] i would like to thank ellis connolly for assistance in the preparation of this talk. © reserve bank of australia, 2001 – 2019. all rights reserved. the reserve bank of australia acknowledges the aboriginal and torres strait islander peoples of australia as the traditional custodians of this land, and recognises their continuing connection to country. we pay our respects to their elders, past, present and emerging.