Unconventional monetary policy
Fed paper looks at effects of negative rates on banks
Banks with large holdings of liquid assets could be hurt by negative rates, researcher says
Lane stresses inflation will determine ECB’s PEPP purchases
Lower inflation outlook could mean the programme will remain longer than anticipated
Kansas Fed paper looks at conditional forward guidance
Date-based forward guidance would be effective without yield curve control, research says
Fed extends emergency facilities for three months
Move comes as US Covid-19 reported cases surge to record highs ahead of July FOMC decision
Bank of Israel’s bond purchases are working – deputy governor
Andrew Abir says corporate bond purchases have eased conditions for non-financial firms
ECB slows down PEPP purchases
Emergency asset buying fell to lowest level since programme was launched in April
Sarb eases conditions on emergency loan guarantees
South African central bank introduces new loan types to assist uptake of the scheme
Dominican Republic launches facility to tackle pandemic impact
Equivalent of $1 billion made available for bank to lend to firms and households
Fed expands ‘Main Street’ facility to serve non-profits
New loan options and wider eligibility to support credit flows to charities, hospitals and universities
Haldane and co-authors conclude QE has made UK happier
Authors use survey data to track QE’s impact on household balance sheets
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
Fed’s safety nets are ‘fundamentally unsustainable’
New safety nets will allow “zombie companies” to thrive and drag down productivity, experts say
Fed launches final Covid-19 lending facility
Facility began purchasing corporate bonds at issuance on June 29
Weidmann to use ECB documents before German lawmakers - report
Bundesbank president’s appearance may satisfy conditions of German court ruling
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding
Bank of Canada stimulus to continue for ‘very long period’ – Macklem
Economic recovery will be “prolonged and bumpy”, governor Tiff Macklem warns
NY Fed economists weigh in on yield curve control debate
Jury still out on Japan’s measures to control yield curve but there is “one clear benefit”, researchers say
Chilean government wants to give central bank QE powers
Draft law would allow Central Bank of Chile to buy government debt in “exceptional circumstances”
Should the BoE go negative?
Much research into negative rates suggests central banks should have little to fear
Israeli governor reflects on response to Covid-19
Bank of Israel started government bond purchases and dollar-shekel swaps to boost liquidity
Fed poised to purchase corporate bonds next week
New York Fed will create a portfolio to track the US corporate bond market under new plans
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good, writes HKU’s Bryane Michael
Fed makes last-minute changes to ‘Main Street’ programme
Programme will be open “soon”, despite plans to launch in May
Football stadiums to airlines: BoE reveals commercial paper holdings
Central bank has taken on exposures to a wide range of businesses – including polluters