Central Banks
Georgian central bank launches liquidity support for SMEs
New programme will supply liquidity to commercial banks in exchange for loan collateral
Stress levels rising: investment funds and the Covid-19 shock
Extreme market stresses due to Covid-19 are underscoring the central role non-banks play in crisis contagion, as in 2008. Were regulators better prepared this time?
IMF gives Chile access to $24 billion credit line
Country is exposed to major risks from pandemic despite strong economic record, Georgieva says
Bond purchases will not imperil independence – Brazilian governor
Roberto Campos Neto stresses temporary asset purchases face strict limits
BoE paper explores global financial cycles since 1880
Cycles in credit and housing have become more pronounced, but only for some economies
Minutes highlight scale of BoE’s Covid-19 redeployment
Some staff were overwhelmed with work while others had little to do
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
IMF staff: Argentina’s debt restructuring plan could restore sustainability
Staff give positive assessment but say there are major risks
RBA’s Lowe says fiscal policy must do more in the future
Governor says nations can no longer depend on monetary policy to keep inflation under control
Bangladeshi governor’s term extended amid pandemic crisis
IMF approves aid worth 50% of Bangladesh’s quota and says country faces major challenges
Colombia cuts rates to record low
On-target inflation allows central bank to provide stimulus as economy faces sharp recession
Fed lifts lid on ETF purchases
Biggest holding is of a BlackRock ETF, the same firm managing the purchases
Time for mandatory climate disclosures is now – Carney
Former BoE chief says Covid-19 provides an opportunity to introduce comprehensive disclosures, as RBNZ governor says any delay could disrupt economic prosperity and social cohesion
US disinflation accelerated in April
Core inflation sees steepest drop since the 9/11 attacks
Sama injects $13 billion as banks prepare to reopen
Saudi central bank directs financial firms to “gradually return” to normal operations
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
Nigeria slashes rates by 100bp
Central bank thinks stimulus package can still prevent the economy from entering recession
Carstens, Jordan, Weber: respect the boundaries of fiscal and monetary policy
Axel Weber says huge US deficit could pose problems for global financial stability
Norges Bank signs working agreement with Nicolai Tangen
Tangen’s appointment as SWF chief had been questioned due to his relationship with his predecessor
Riksbank launches new financial vulnerability metric
“Systemic risk indicator” is designed to track overall financial stability across market segments
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, consumer QE and Fed-backed digital currency as crisis tools