Coronavirus
Brainard urges caution about US recovery
Bounce in activity came earlier than expected but major risks still loom, Fed board member says
Tenreyro sheds light on BoE’s ‘epi-macro’ modelling
Staff have conducted several virus simulations, but uncertainty remains high
Bank of Canada sees economy enter ‘recuperation’ phase
Central bank keeps government bond purchases at minimum C$5 billion ($3.7 billion) a week
Sri Lankan governor obeyed president’s call for credit easing – reports
Central bank closes down two more deposit-taking institutions in signs of further strain
State guarantees helped prevent drop in business loans – ECB survey
But credit standards to households tightened further, as higher NPL ratios hamper credit provision
After social distancing: prepare for national distancing
If the Covid-19 pandemic triggers a desire to onshore production, international capital flows will come under a new spotlight
Yaron supports Israel’s increased fiscal stimulus
Package could push budget deficit to 13% of GDP in 2020
Bank of Mauritius extends Covid-19 support measures
Central bank extends loan support programme and increases foreign exchange funding
Bank Indonesia to buy $28 billion of government debt
Central bank increases direct financing of government, raising fears over currency and independence
Malawi’s new president dismisses governor
Former World Bank official will take over central bank as country faces uncertain outlook
US should extend benefit payments for long lockdown – ECB paper
If lockdown has to continue, lawmakers should further extend benefits to avoid major damage
Sri Lankan MPC cuts policy rate to record low
Central bank calls on commercial banks to pass on looser policy’s benefits “without delay”
Headline inflation to stray into negative territory, Bank of Thailand reports
Sharp decline in oil prices and government measures push forecast for headline inflation to -1.7%
Banks will be tested in next phase of pandemic – FSB chair
Reforms are needed to improve resolution planning and non-bank resilience, Randal Quarles says
Growth has replaced slack in Phillips curve relationship – Cleveland Fed paper
Findings could have “substantial disinflationary” implications during current recession, researchers say
Bank Negara Malaysia cuts policy rate to fresh low
Labour market weakness and cautious households may hamper recovery, central bank warns
Bank of Japan to begin testing CBDC
BoJ publishes report on feasibility of digital yen, a surprise move after governor’s ‘lack of demand’ comment
‘Careful’ regulation needed to prevent fintech financial exclusion – IMF
New technology must not be taken for granted during Covid-19 recovery, researchers say
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level, write Theodoros Evgeniou, David Hardoon and Anton Ovchinnikov
Have equities passed the Covid-19 test?
Reserve managers face a rebalancing and asset allocation challenge, with Fed interventions distorting yield curves and boosting equity valuations. What’s next for asset diversification?
Peter Praet on Europe’s Covid-19 responses
The former ECB chief economist talks about threats to financial stability, negative rates, common debt issuance and steps to improve the EMU
US unemployment stats understate problem – research
Peterson Institute research says BLS figures fail to include all workers affected by pandemic
RBI supplies liquidity to Indian shadow banks ‘to avoid systemic risk’
Non-banking financial sector has faced major difficulties over last two years
BIS suspends dividend to prepare for further Covid-19 strains
BIS will not pay dividend for first time since 1950, as senior managers see further turbulence ahead