Monetary Policy
ECB takes unprecedented steps to preserve credit provision
Central bank accepts state-guaranteed loans as collateral, reduces haircuts
Central banks may have to become ‘dealers of last resort’ – BIS economists
EMEs have not overcome “original sin” by deepening local currency bond markets, authors warn
RBNZ to start buying local government debt
Central bank expands its large-scale asset purchases in the wake of the Covid-19 shock
Riksbank expands incentives for lending to small firms
Central bank continues with flurry of crisis-fighting measures
ECB buys Italian bonds well above capital key in March
Central bank bought €11.8 billion in Italian sovereign bonds last month, up from €2.2 billion in February
Bank of Mexico lacks scope to counter Covid-19 – minutes
Officials highlight limited scope to lower rates below 6.5% without stoking inflation
Is the ESM the eurozone’s best weapon against Covid-19?
Eurobonds face economic and political hurdles, say former officials
Bank of Israel launches targeted lending operations
Central bank offers cheap loans to banks as part of Covid-19 response package
China cuts rate on excess reserves for first time in 12 years
PBoC levels up stimulus, cutting rate on excess reserves while reducing RRR for the third time this year
Should the Fed be next to implement yield curve control?
RBA joins BoJ in effort to control longer-term rates
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
ECB extends strategy review until mid-2021
Central bank postpones public events by six months due to the Covid-19 crisis
Amplifying the soundwaves: the evolution of social media communications
Central bank social media usage is on the rise, with choice of platform is shifting towards the visual
Chile cuts rates to record low 0.5%
Central bank expands banking bond purchases to $5.5 billion, GDP expected to shrink by 5% quarter on quarter
ECB makes record sovereign bond purchases
Central bank ramped up purchases under the PSPP programme in the week to March 27
Singapore eases monetary policy sharply and taps reserves
MAS flattens currency appreciation slope to zero after government unveils $34 billion stimulus
Brazilian central bank seeks power to buy government bonds
Governor Campos Neto said the central bank should be able to support markets as its peers are doing
Central Bank of Colombia cuts rates and unveils liquidity support
Central bank cuts main rate and offers liquidity in US dollars and pesos
China makes surprise rate cut to resist crisis
PBoC unexpectedly cuts the seven-day repo rate while injecting liquidity
Bank of Canada launches large-scale asset purchases
Measures target market function more than monetary easing, says governor Stephen Poloz
Flatter Phillips curve calls for average inflation targeting – Brookings paper
Average inflation targeting could be “especially effective” in current environment, researchers say
Riksbank to buy commercial paper and expand counterparties
“Everything has changed”, business survey finds
Is credit policy the new normal for the Fed?
Three former senior Fed officials look back on an unprecedented month of policy action