Central Banks
Bank of Uganda cuts rate and warns of lasting disruption
Central bank cuts rates and narrows target band, as impact of Covid-19 in Uganda continues
Cost of Mark Carney’s leaving gifts revealed
Former governor’s gifts appear small in comparison with predecessor Mervyn King
Fed makes last-minute changes to ‘Main Street’ programme
Programme will be open “soon”, despite plans to launch in May
Sri Lankan governor says system is sound despite lender failing
Central bank governor also says there is no chance of sovereign default as budget is suspended
ECB and Romanian central bank set up repo swap line
Romanian currency has fallen in recent months as central bank lowers rates in response to pandemic
Israeli reserves rise 6.7% in May to new record
Portfolio boosted by government transfers from abroad and FX purchases
Football stadiums to airlines: BoE reveals commercial paper holdings
Central bank has taken on exposures to a wide range of businesses – including polluters
BoE paper: narratives can help overcome ‘radical uncertainty’
Speaking directly to the public can improve analysis and communication of policy, authors find
Covid-19 forcing reserve managers to rethink asset allocations
Adjusting asset allocations and dealing with reduced market liquidity are reserve manager challenges
Mass bankruptcies should feature in Fed stress tests – former officials
Crowding of bankruptcy courts can effectively double loss given default, says Jeremy Stein
Lane warns eurozone faces ‘substantially negative’ price pressures
Tighter financial conditions and falling inflation called for expanded QE, says ECB chief economist
US unemployment falls sharply in May
Unemployment rate declined to 13.3% from 14.7% in April, despite widespread fears it would rise
Bundesbank paper looks at effective lower bound
Modellers can use survey information to reduce impact of ELB on yield decompositions, author says
Former officials say Fed should impose tighter regime
Donald Kohn and Jeremy Stein warn of risks and say Fed should stop US banks paying dividends
IMF should issue more SDRs – Brazilian governor
Brazil’s recovery will be crucially affected by external factors, Campos Neto tells Central Banking
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how BoE tackled Covid-19 markets crisis
China moves towards single ‘green finance’ taxonomy
Move to unify central bank standards with other agencies could have major impact – observers
Trinidad and Tobago demonetisation hit illegal activities, central bank says
Financial Intelligence Unit recorded 900 reports of suspicious transactions in three-month window
People: Hungarian deputy unexpectedly resigns
Marton Nagy resignation raises questions on future policy; BIS picks new CPMI secretariat head
Capital controls less effective at curbing flows than macro-pru – BIS paper
Capital controls do not have significant impact on volume or composition of flows, authors find
ECB expands coronavirus response
Lagarde says ECB will reinvest profits from pandemic response purchases
At least 50 Bangladesh Bank officials test positive for Covid-19
Employee council asks governor to consider changing working arrangements to rotate staff
Chilean central bank requests access to NY Fed’s repo facility
Central Bank of Chile also seeks to expand renminbi swap line with PBoC