Coronavirus
Cleveland Fed president criticises scale of rate cut
FOMC should have saved some rate cuts for US economic recovery, Loretta Mester says
Fed re-launches Primary Dealer Credit Facility in latest crisis move
New PDCF is more easily accessible than similar measure used in 2008 crisis
Fed moves to ease commercial paper strains
Commercial paper market under “considerable strain” due to coronavirus-related uncertainty, Fed says
Nigerian central bank announces emergency measures
CBN will fund healthcare expansion and guarantee loans, and says currency will not be devalued
Bank of Canada steps up Covid-19 response
Bank widens eligible repo collateral, tweaks monetary framework and unveils mortgage market measure
Central banks grapple with dollar funding crunch
Indicators of stress hit highest levels since global crisis; dollar backstops may soon be tested
Bank of Mauritius launches Covid-19 response package
Bank unveils five measures designed to bring relief for businesses and keep credit flowing
The Tokyo Olympics: downside risks prevail
The Bank of Japan’s latest stimulus effort seems to be weak, and comes at a time when the benefits of hosting the Tokyo Olympics may be overstated – even if the games still take place
Croatian central bank starts bond-buying programme
HNB also holds repo auction and may relax banks’ capital buffers in response to coronavirus
Central banks activate contingency plans amid Covid-19 pandemic
Rotating and remote team working aims to reduce contagion risk
Central banks should support demand and bolster confidence – IMF
IMF offers advice to central banks on what measures are appropriate to combat Covid-19
Richmond Fed paper examines use of discount window
Facility not typically used in “life or death” scenarios, researchers find
Fed cuts rates 100bp as central banks launch joint action
US central bank unveils unprecedented coronavirus response package as global swap lines are bolstered through co-ordinated action
ECB strongly criticised by French and Italian leaders
Lagarde’s words spark Italian anger while Macron says first ECB measures are not sufficient
Central banks step up liquidity support
RBA, Bank of Canada, Norges Bank and Riksbank all increase their liquidity interventions
Covid-19 will not delay World Economic Outlook – IMF’s Rice
Communications director says reports will be published as normal
Norges Bank cuts rates 50bp in emergency meeting
Central bank offers extraordinary three-month loans to banks and calls on government to reduce countercyclical buffer
Fed to flood repo market with up to $5.5 trillion
NY Fed unveils substantial liquidity package as analysts warn massive market disruption is possible
ECB lowers capital levels as EBA postpones stress tests
Coronavirus response sees ECB loosen limits for largest banks while EBA calls for supervisory flexibility
Lagarde seems to stumble as ECB announces coronavirus response
ECB announces more QE, expanded financing and loosening of banks’ capital and liquidity buffers
NY Fed increases repo operations in new bid to tackle funding squeeze
Trump announces fiscal and travel measures as Fed steps up efforts to support bank funding
Monetary policy can help buffer Covid-19 impact – RBA’s Debelle
Deputy governor says rate cuts will boost spending despite lag and reduce exchange rate volatility
ECB likely to shy away from rate cut, analysts say
Central bank expected to unveil targeted measures to support banks and SMEs
Coronavirus policy responses raise financial stability threat – IMF official
Policy-makers must be alert to threat of rapid liquidation of risky assets, Tobias Adrian says