Independence
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
Economists debate monetary financing of China’s government debt
PBoC adviser dismisses idea of monetising government bonds despite calls from Ministry of Finance think-tank
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Pandemic debt will test policy-makers – Richmond Fed research
Authorities may opt for “financial repression” policies with central banks keeping rates low – paper
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
Norges Bank proceeds to draw up contract of new SWF chief
Nicolai Tangen’s appointment came under scrutiny after it was revealed he asked incumbent for help during hiring process
Could engineering higher inflation help manage fiscal deficits?
Fiscal and monetary co-ordination could be a workable option for the Covid-19 recovery, Chicago Fed paper finds
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Norges Bank supervisory council requests information on SWF’s new head
Executive asked to answer questions on hiring process amid ongoing expenses scandal
Norway’s SWF leadership caught up in expenses scandal
Incoming chief executive asked current CEO for a favour weeks after inviting him to a seminar in the US
Proposed changes to law could damage independence – Swedish central bank
Lawmakers’ proposal would hinder crisis management capability, Sveriges Riksbank says
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
Bank of England to lend directly to government
Central bank agrees temporary expansion of “Ways and Means” facility
The dawn of a safer and sounder European banking sector
Implementation of two pillars of banking union has led to significant improvements in the safety and soundness of the European banking system
Central banks grapple with dollar funding crunch
Indicators of stress hit highest levels since global crisis; dollar backstops may soon be tested
Coronavirus could require expanded QE powers – Rosengren
Congress should grant Fed ability to buy wider set of assets under severe scenario, Rosengren says
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Costa Rican central bank pulled into fiscal debate
Government split on how fiscal rule should be calculated as fiscal deficit continues upward trend
ECB unveils plan for its strategy review
Eurosystem will host “listening” events with general public, academia and civil society organisations
Shelton gets little respite in Fed nomination hearing
Lawmakers unimpressed by her previous remarks and poor attendance record at EBRD meetings
RBNZ updates external whistleblower policy
Central bank will not deal with personal workplace issues and is encouraging the use of internal processes where possible
Cuban president appoints new central bank governor
Marta Sabina Wilson González was senior official at state-owned lender
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
IMF report: Kazakh central bank split is opportunity to boost independence
Central bank needs stronger governance and greater separation from government, staff say