Central Banks
National Bank of Georgia upgrades FX infrastructure
Move follows other financial market infrastructure reforms in recent years
Hungary’s central bank to start buying government securities
Central bank notes monetary policy has fallen short and cuts interest rates to a new low of 0.6%
EU recovery fund set to ease ECB’s burden
Common debt issuance likely to significantly reduce fragmentation risks, taming sovereign bond spreads, say analysts
Labour market situation is ‘complicated’ – RBA’s Lowe
Unemployment likely to worsen despite initial signs of recovery, governor says
BIS paper studies early form of macro-pru policy
Dutch controls on credit from 1960s to 1990s helped promote stability, authors find
New NBU governor promises to safeguard bank reforms and independence
Kyrylo Shevchenko emphasises continuity in first remarks since taking office
Yellen and Bernanke call for Treasury market reform
March's market gyrations demand close look at infrastructure and regulatory framework, former Fed chairs say
Singapore faces most severe downturn since independence – Menon
Singapore’s economic situation remains “dire” and activity will be below pre-crisis levels “for quite a while”
IMF and World Bank chiefs call for more action on debt relief
But G20 fails to agree extension to the Debt Service Suspension Initiative
Covid-19 boosts gold’s appeal among reserve managers
Central banks say gold helps replace negative-yielding sovereign bonds; equities cement position in reserve portfolios
Q&A: New York Fed’s Stiroh on climate change and Covid
Co-chair of Basel task force discusses possible supervisory approaches to climate risk
IMF suspends country assessments until April 2021
Resumption of assessments will need to be “gradual” and undertaken flexibly, says fund
ECB expands euro repo network
Albania and Serbia join Covid-19 liquidity backstop
Fed expands ‘Main Street’ facility to serve non-profits
New loan options and wider eligibility to support credit flows to charities, hospitals and universities
Confusion over Nigerian central bank’s exchange rate policy
Finance minister says rates will be unified while reports say real value of currency is falling
Two FOMC members back overshooting target
Brainard and Harker suggest Fed should leave rates low until inflation rises above 2% target
Bank of Greece proposes ‘bad bank’ for NPLs
Covid-19 may worsen the highest ratio of non-performing loans in the eurozone, central bank says
People: IMF names new Europe chief and secretary
BIS promotes Philip Wooldridge to head up Committee on the Global Financial System
Chinese banks’ dollar needs are large but unclear – BIS research
Swap lines meet most banks’ dollar needs, but firms may still struggle to access dollars, authors warn
FCA launches new digital sandbox
Project will give firms access to “high-quality datasets” to test new technology
Canada holds rates as governor warns of “long climb out”
Governor says interest rates will stay “unusually low” as central bank forecasts GDP fall of 7.8%
Ukraine appoints new governor after IMF warns on independence
IMF and other donors want evidence that government is supporting central bank, insiders say
Chilean MPC says it will keep stimulus in place
Central bank says credit supply is weak despite emergency liquidity package
Eurozone outlook is ‘highly uncertain’, says Lagarde
ECB maintains stimulus package unchanged as lower energy prices weaken inflation