Coronavirus
Brazil close to limit of monetary easing – minutes
Rate-setters stress new interest rate cuts could imperil financial stability
FCA to gain new powers to tackle ‘tough legacy’ issues in Libor transition
Untangling complex legacy issues is looking increasingly difficult as delays mount due to Covid-19
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
Bank of Canada exploring alternative inflation measures – governor
Canadians feeling prices rising despite CPI being negative for two months, deputy governor says
Brazilian central bank cuts rates to record low
MPC says “remaining space for monetary policy stimulus is uncertain”
Covid-19 hampers inflation measurement – Riksbank’s Ohlsson
Too soon to say whether consumption changes during pandemic will become permanent, official says
Chilean government wants to give central bank QE powers
Draft law would allow Central Bank of Chile to buy government debt in “exceptional circumstances”
PBoC will not engage in monetary financing, Guo says
Senior central bank official says China will not monetise deficits or use negative interest rates
BoE expands asset purchases by £100 billion
Haldane casts sole vote against expansion as ex-MPC member Sentance warns of “autopilot”
Namibia’s central bank cuts rates to record low
Central bank acts to preserve link to South African currency as it reintroduces lockdown measures
Bank Indonesia cuts rate for the third time this year
Governor hints that further cuts may come while analysts warn economy may shrink further
Bernanke and Yellen join call for new fiscal stimulus in US
Former Fed chairs among 148 economists warning of “disastrous” effects if Congress fails to act
Bosnia and Herzegovina central bank staff donate salary to fight Covid-19
Over $20,000 will be donated to charities including the Red Cross
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of central bank portfolio managers; socially responsible investing gains ground
Israeli governor reflects on response to Covid-19
Bank of Israel started government bond purchases and dollar-shekel swaps to boost liquidity
Reserve managers ‘unprepared’ for home trading
Covid-19 presented reserve managers with unprecedented business continuity challenges at a time of acute market and economic distress
Iran’s race towards monetary policy reform faces high hurdle reality
The Majlis Research Center’s Tohid Atashbar says positive outcomes from the Iranian central bank’s fast-tracking of monetary policy reform – made in response to Covid-19 and US sanctions – may prove difficult to deliver
Chicago Fed breaks ties with economist over Black Lives Matter criticism
Controversial comments by senior professor ignite debate over racism in economics, and the Fed’s role in tackling inequality
Ukraine’s central bank cuts rates to record low
Central bank says move was made possible by IMF aid and pledges further boost to reserves
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
CBDC development pushed into ‘top gear’ by Covid – policy-makers
The pandemic will have a lasting impact on consumer payment behaviour, panellists say
UK GDP growth plunges to -20% in April
Figure is worst on record, but may be somewhat better than earlier official estimates
Bank of Israel investigates carbon pricing
NGFS says global economy needs “green recovery” from pandemic
Mauritian central bank to use $2 billion of reserves to fund firms
Central bank will also issue debt instruments to give government $1.5 billion in new funding