Unconventional monetary policy
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
US needs aggressive fiscal policy and negative rates – St Louis Fed economist
Policy response must be powerful enough to overshoot previous growth trend for a period
Bond purchases will not imperil independence – Brazilian governor
Roberto Campos Neto stresses temporary asset purchases face strict limits
What would yield curve control mean for Fed’s asset purchases?
Policy may imply shift in rationale from crisis to recovery, and potentially more volatility in purchases
Carstens, Jordan, Weber: respect the boundaries of fiscal and monetary policy
Axel Weber says huge US deficit could pose problems for global financial stability
Bank Indonesia criticised after direct purchase of government debt
World Bank economist warns primary market purchases could undermine confidence
Fed could exploit helicopter money with digital currency system – former officials
Simon Potter and Julia Coronado propose recession insurance bonds and Fed-backed digital currency as crisis tools
FOMC considers more aggressive forward guidance
Officials discussed state-contingent forward guidance and yield curve control, April minutes show
Bailey confirms BoE is considering negative rates
“I have changed my position a bit,” governor tells lawmakers, as UK inflation falls drastically
Final Fed lending facilities to go live this month
Complexity of main street facility has been “in a class by itself”, Jerome Powell says
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds