Unconventional monetary policy
Bank of England to lend directly to government
Central bank agrees temporary expansion of “Ways and Means” facility
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
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
Should the Fed be next to implement yield curve control?
RBA joins BoJ in effort to control longer-term rates
ECB makes record sovereign bond purchases
Central bank ramped up purchases under the PSPP programme in the week to March 27
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
Is credit policy the new normal for the Fed?
Three former senior Fed officials look back on an unprecedented month of policy action
Fed selects BlackRock to manage asset purchases
Fed taps into firm’s experience in corporate debt management in move reminiscent of 2008 crisis
ECB drops bond-holding limits for crisis response
€750bn stimulus programme will not be subject to previous limits on holding countries’ bonds
ECB sharply ramps up asset purchases
Central bank increases securities holdings by €17.4 billion, the highest for two years
Central Bank of Colombia starts buying sovereign, private debt
Central bank aims to ensure the constant provisioning of liquid resources to the economy
Canadian governor says central bank can buy corporate bonds outright
Poloz’s statement could mean Bank of Canada is considering QE, observers say
ECB launches €750bn emergency purchase programme
Governing council says new tool will remain active until Covid-19 crisis is over
Asian central banks rush to roll out easing measures
Japan expands asset purchases; Korea cuts rates; China extends lending and HKMA cuts capital buffer
Bank of Israel unveils actions to boost market function
Repo operations and asset purchases designed to tackle high volatility
Central banks and banks: a changed relationship
Development of large, complex international capital markets has reshaped relationship between central and commercial banks
RBNZ prepares unconventional policy tools
Central bank is not planning to use them yet, governor stresses
Coronavirus could require expanded QE powers – Rosengren
Congress should grant Fed ability to buy wider set of assets under severe scenario, Rosengren says
ECB’s asset purchases had global spillovers – IMF research
Eurozone investors significantly rebalanced into foreign advanced-economy securities, researchers find
Knot warns of drawbacks of negative rates
Consumers are increasing their savings rather than their consumption
Fed paper models new transmission channels of forward guidance
Allowing for household borrowing amplifies forward guidance effectiveness, researchers find
ECB’s QE boosts equity prices beyond fundamentals – DNB research
Negative sovereign bond yields encourage investors to increase exposure to riskier assets