Coronavirus
Podcast: An interdisciplinary approach to Covid-19 surveying
FedSpeak talks with the Minneapolis Fed’s Abigail Wozniak on her new real-time survey combining social science and epidemiology
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing the option as a way to boost liquidity in the fight against Covid-19
Fed’s Jackson Hole conference hit by temporary venue closure
Kansas City Fed is considering implications and will release details when available
Riksbank open to future rate cut
Swedish central bank keeps stimulus package unchanged in monetary policy meeting
World Bank pays out after triggering pandemic bonds
Requirements for funding release were met on March 31; since then, Covid-19 cases in poorest countries have doubled to 1.34% of the global total
Fed expands local government liquidity facility
Programme faced criticism for leaving out regions with heavy Native American and African-American populations
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
Coronavirus latest: Central banks respond to the Covid-19 crisis
Live coverage as central banks respond to the virus outbreak (live feed is now closed)
Bank of Russia cuts policy rate as oil and pandemic crises deepen
Elvira Nabiullina says central bank may cut again as it forecasts major recession in 2020
Riksbank unveils details of local bond purchases
Swedish central bank to buy up to Skr5 billion from Kommuninvest i Sverige
Bank of Japan steps up stimulus with unlimited JGB purchases
BoJ drops limit on government debt and quadruples corporate bond cap, but it is unclear if purchases will actually increase
Ukraine central bank cuts policy rate sharply
NBU says failure to agree IMF deal is main risk, as bank administrators sue oligarch
Fed to expand paycheck liquidity facility after criticism
Some observers say Paycheck Protection Program not reaching most affected firms
Economic impact of Covid-19 to last until at least 2021
Difficult to predict how control measures will impact economy, epidemiologist says
ECB changes collateral rules in effort to shield bank funding
Assets below investment grade will be accepted by ECB as collateral until September 2021
Swiss central bank reports record quarterly losses
SNB loses $39.1 billion as falls in equities wipe out gains on Swiss franc positions and gold holdings
Pandemics can depress natural rates for multiple decades – SF Fed
Real wages tend to rise gradually for 30 years after pandemics, data stretching back to 1340s shows
Turkey continues easing cycle with 100bp cut
Policy-makers see oil shock creating room for stronger easing
Bank of Mexico cuts rates in emergency meeting
Central bank unveils set of measures to boost liquidity amounting to $30.5 billion, 3.3% of GDP
Riksbank will start buying municipal bonds
Central bank includes new assets in 300 billion kronor purchase programme
MAS to give $88m in grants to Singapore fintech industry
MAS offers grants to fintech firms in bid to help them survive coronavirus shock
Statisticians grapple with inflation impact of Covid-19
Collecting reliable inflation figures during lockdown is not straightforward