Central Banks
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Liberian government releases four central bank officials
Government official says it is “going after” central bank board despite unclear evidence of alleged theft
Lower-income households feel worst of Covid-19 economic shock – Fed survey
Nearly 40% of low-earning households faced at least one job loss in March, survey finds
Eurozone saw limited price convergence from 2001–11 – Bank of Spain
Researchers say this limited long-term alignment should be added to central bank policy framework
Bank of Mauritius pushed to tap reserves for business lending
Mauritius’ prime minister thinks the central bank should fund businesses direct from its reserves – but at what cost?
Fed flags ‘elevated’ risk of financial stability pressures
System coped with immediate Covid-19 stresses, but trouble may be building, central bank says
PBoC’s post-pandemic policy is still up in the air
The Chinese central bank has resisted radical easing, but with the NPC meeting this week, more loosening could be on the way, despite debt-level concerns, writes Hui Feng
Mersch says retail CBDC could destabilise financial system
Central bank digital currency could worsen bank runs and harm disintermediation, ECB official says
MAS announces $4.2 million support for Singapore fintech firms
New support for fintech sector follows $88 million package announced in April
Covid-19 should serve as warning for climate change – BIS official
Policy-makers need “holistic approach” to global risks, says Luiz Awazu Pereira da Silva
Mexican central bank cuts rates but stays cautious on inflation
Falling peso and supply disruptions make inflation outlook “uncertain” despite recession, board says
RBI economists hunt for suitable core inflation measure
Study examines 11 candidates for a less volatile inflation measure that is easy to communicate
Economists race to merge epidemiology and macro
Promising results are emerging, but workable forecasts may be some way off
Bank of Canada warns of major rise in mortgage arrears
Mortgage arrears could rise to levels nearly double seen in global financial crisis, central bank says
Chile requests flexible credit line from IMF
IMF’s Georgieva says she will recommend Chile receives access to $24 billion credit line
Banks are ‘inherently unstable’, BIS paper finds
Researchers study the many roles banks play and find all of them tend towards instability
Podcast: Financial innovation and stability in the US
In the latest episode of the FedSpeak podcast, the Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting through the lens of financial stability
Bank of Israel reserves rise by 5.6% in April
Government transfers from abroad boost central bank’s reserves portfolio by almost $6.5 billion
ECB widens scope of female recruitment targets
Central bank’s efforts to recruit women will now reach down past senior roles