Monetary Policy
Proposed changes to law could damage independence – Swedish central bank
Lawmakers’ proposal would hinder crisis management capability, Sveriges Riksbank says
Shadow banking increases need for asset purchases – ECB paper
Large non-bank financial sectors can impair transmission of monetary policy, paper finds
Central Bank of the Philippines cuts rates at emergency meeting
Emergency move brings central bank's rate cuts this year to 125 basis points
Policy-makers making risky ‘one-round bet’ on Covid-19 – El-Erian
Former Pimco chief worried about ability of policy-makers to tackle a ‘second wave’
Bank of Canada unveils new purchasing programmes
Monetary policy report analysis shows economy could shrink by roughly 30% in Q2
Uzbekistan central bank cuts rates by 100bp
Emergency meeting loosens policy in response to pandemic and energy price fall
Fed takes first step to unwind repo support
Repo market is showing signs of “more stable” conditions, New York Fed says
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed has gone too far, market function rules needed and chance opens for shared policy load
Sarb cuts rates to historic low
Unanimous decision comes as growth outlook and inflation forecasts revised
Crises enliven ‘totalitarian temptations’
Coronavirus pandemic will embolden government ‘power grabs’
Fed unveils $2.3 trillion package for ‘Main Street’
Package launched as 6.6 million more people claim for unemployment insurance
ECB minutes reveal resistance to lifting self-imposed limits on PEPP
Some governing council members did not deem new programme necessary
National Bank of Poland cuts rates to record low of 0.5%
Central bank includes state-guaranteed bonds in its asset purchase programme
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
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