Coronavirus
New York Fed paper finds possible failings in US pandemic aid
Research on Paycheck Protection Program says some heavily virus-affected areas of US may be losing out
US lockdown policy ‘too restrictive’ – Minneapolis Fed paper
Researchers model optimal lockdown policy for lowest aggregate welfare cost to society
Norway’s central bank cuts policy rate to zero
Norges Bank’s move brings rate to record low, as central bank warns of “substantial” shock
BoE predicts sharp fall and fast recovery for UK
Forecasters predict limited long-term scarring from virus shock; banks are in strong position to lend, stress test finds
The Central Bank Digital Currency Survey 2020 – debunking some myths
Most central banks believe there are retail uses for central bank digital currencies, but few plan to launch a CBDC in the coming five years, with most rejecting the use of blockchain
Sri Lankan central bank looks back at ‘dismal’ year
Economy was just recovering from terrorist attacks when Covid-19 hit, CBSL says
Strict lockdown could cause 37% quarterly GDP contraction – RBNZ
Assessment shows impact of containment measures on New Zealand’s economic output
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
CBRT battles external imbalance with dwindling reserves
Turkish central bank loses battle to keep lira under 7 as reserves shrink, but pressures may be easing
RBA holds rate and reveals forecast scenarios
Cash rate target remains at 0.25%; RBA maintains three-year bond yield target at 0.25%
MAS rolls out second relief package for individuals
Individuals can defer repayments of student and car loans as MAS aims to ease debt burden amid growing uncertainty
Covid-19: a hacker’s opportunity
What can central banks do to plug cyber threat weaknesses?
IMF extends Article IV consultations as it steps up aid efforts
Nine more countries receive IMF aid as demand continues at “unprecedented” levels
Zimbabwean central bank cuts rates and attempts currency controls
RBZ loosens policy as IMF predicts massive contraction in GDP for already-weakened country
Elderson says authorities should use Covid-19 to boost green transition
Aid to aviation sector should be conditioned on moving away from carbon dioxide emissions
BoE eases funding terms as government launches ‘bounce back’ loans
Loans will be excluded from leverage ratio calculations
Lebanese PM asks for IMF aid as dispute with central bank grows
Governor at centre of massive economic crisis appears to condemn PM’s words as “slander”
New Bank of Canada governor selected
Tiff Macklem, the senior deputy governor under Mark Carney, will replace Poloz on June 2
Fed expands main street lending plans
Central bank faces criticism for appearing to respond to oil and gas lobbying
Covid-19 could cut eurozone GDP by 5%, 8% or 12% in 2020 – ECB
ECB publishes alternative scenarios for the uncertain economic outlook created by the pandemic
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Dutch pension funds record heavy losses – DNB
Major pension funds warn they may have to cut payouts unless finances improve soon
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but the ECB has not expanded asset purchases
Nigeria gets $3.4 billion IMF support
IMF calls for more donor support but warns over possible misuse of aid