News
Norges Bank supervisory board strongly criticises contract with new SWF head
Board tells lawmakers the contract agreed by central bank governor lacks sufficient safeguards
New York Fed to tighten repo operations
Fed sees “substantial improvements” in dollar funding markets
Bank of Korea sets up digital innovation division
Korean central bank aims to increase CBDC research and create new statistics system
People: Former BoC governor Poloz joins board of energy firm
Stephen Poloz joins the board of Canadian pipeline firm Enbridge; Haldane gets third time on Bank of England MPC; Bank of Israel director general steps down; and more
Bank of Israel investigates carbon pricing
NGFS says global economy needs “green recovery” from pandemic
Mauritian central bank to use $2 billion of reserves to fund firms
Central bank will also issue debt instruments to give government $1.5 billion in new funding
Fed promises to keep buying assets at current rate
Fed will hold accommodation in place for “however long it takes”, chair Jerome Powell says; FOMC releases first projections this year
Central bankers tread carefully in move to ESG investing
Central banks must be cautious as reserves portfolios perform many roles, panellists say
Appetite for renewed Fed dollar swap lines in doubt
With up to $300bn of positions nearing expiry, some say FX swap market can meet banks’ funding needs
CBDC could endanger maturity transformation – Philadelphia Fed paper
Opening central bank balance sheet to consumers could create “deposit monopolist”, research says
ECB testing banks’ ability to deal with a second wave of Covid-19 – Enria
ECB head of supervision stresses banks are reluctant to use buffers because of market reaction
Covid-19 must not cause ‘technological lockout’, says RBA’s Bullock
Merchants could be hit if dual pricing is unavailable for mobile payments, deputy governor says
Doyne Farmer’s next big adventure: capturing the universe
Complexity theorist plans to build an economic super-simulator on a global scale
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 to play out
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
Football stadiums to airlines: BoE reveals commercial paper holdings
Central bank has taken on exposures to a wide range of businesses – including polluters
Covid-19 forcing reserve managers to rethink asset allocations
Adjusting asset allocations and dealing with reduced market liquidity are key challenges for reserve managers, survey reveals
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
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 the BoE tackled the Covid-19 crisis in the markets