Quantitative easing
Lagarde expected to clarify ECB bond-buying plans
ECB has lowered purchases as yields have risen and spreads have increased
Bank of Canada holds policy rate steady
Economy improving, but central bank sees “considerable economic slack” and “great deal of uncertainty”
Bundesbank retains profits to build up risk provisions
Weidmann says risk provisioning is “first step” due to increased exposure on policy portfolio
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
BoE given green remit for monetary policy
Central bank to provide details on reforming corporate bond buying “in the coming months”
The Bank of Japan must adjust its monetary policy
Sayuri Shirai says the central bank needs to make its policy more sustainable. The BoJ is running out of ways to generate further monetary stimulus
Bank of Korea to expand government bond purchases
South Korean central bank vows to buy more government bonds as finance ministry proposes new pandemic relief package
Eurozone needs fiscal stimulus – ECB’s Schnabel
ECB board member says raising eurozone inflation needs fiscal evolution and structural reform
Monetary innovation required to respond to next crisis – Riksbank’s Breman
Deputy governor thinks fiscal and monetary policy co-ordination will be increasingly important
Adding QE can fix New Keynesian models – BoE paper
“Mild adjustments” to balance sheet are enough to avoid paradoxical results, authors find
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
Temporary green QE might have limited effects – research
Green bond buying can cut flow of pollution but has little effect on stock – Bank of Italy paper
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
French governor calls for ECB to make radical carbon shift
ECB is not sufficiently accounting for exposure to climate risk, says Villeroy de Galhau
Riksbank revises up growth and inflation forecasts for 2021
Swedish central bank maintains stimulus; inflation not expected to approach target until 2023
Bailey defends BoE’s independence
Claims that buying government debt threatens independence are “entirely without merit”, governor says
Reserve Bank of Australia launches A$100bn in new QE
Australian central bank surprises analysts with easing measure, despite more hopeful macroeconomic forecast
Cross-border spillovers play key role in ECB’s bond purchases – DNB paper
Cross-border effects play a “dominant role” in PSPP’s effectiveness, say researchers
Bundesbank paper estimates effects of Fed’s QE policies
Purchases of private securities were most expansionary measure, researchers find
ECB steps up work on climate change
Central bank launches climate change centre and invests in new BIS green bond fund
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
BoE must improve understanding of QE – report
Lack of understanding has prevented BoE’s ability to build public trust in new policy tool, report says