News
ECB research finds Phillips curve still matters
Underlying relations are complicated, but slack and expectations still drive prices, economists say
UK statisticians turn to online prices to cope with Covid-19 lockdown
Around 80% of prices are usually collected in person, forcing rethink of data gathering approach
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
CBRT battles external imbalance with dwindling reserves
Turkish central bank loses battle to keep lira under 7 as reserves shrink, but pressures may be easing
Dominican Republic governor opposes ‘inadmissible’ pension proposal
Allowing workers to withdraw savings could create long-term crisis, Héctor Valdez Albizu warns
Fed could purchase $750 billion of corporate debt in new facilities
Fed clears staff to purchase investment- and non-investment-grade debt and ETFs
MAS rolls out second relief package for individuals
Individuals can defer repayments of student and car loans as MAS aims to ease debt burden amid growing uncertainty
IMF extends Article IV consultations as it steps up aid efforts
Nine more countries receive IMF aid as demand continues at “unprecedented” levels
Zimbabwean central bank cuts rates and attempts currency controls
RBZ loosens policy as IMF predicts massive contraction in GDP for already-weakened country
Payment giants ask EBA for PSD2 extension
Covid-19 disruption puts strong customer authentication deadline in doubt
New Bank of Canada governor selected
Tiff Macklem, the senior deputy governor under Mark Carney, will replace Poloz on June 2
Fed expands main street lending plans
Central bank faces criticism for appearing to respond to oil and gas lobbying
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Dutch pension funds record heavy losses – DNB
Major pension funds warn they may have to cut payouts unless finances improve soon
People: Sandra Boss quits BoE roles to join BlackRock
Prudential committee member to join asset manager; Coeuré to head committee on Covid-19; State Bank of Vietnam appoints new director-general
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but the ECB has not expanded asset purchases
Nigeria gets $3.4 billion IMF support
IMF calls for more donor support but warns over possible misuse of aid
RBNZ lifts mortgage lending restrictions for one year
New Zealand's central bank says latest crisis move will not weaken financial resilience
Podcast: An interdisciplinary approach to Covid-19 surveying
FedSpeak talks with the Minneapolis Fed’s Abigail Wozniak on her new real-time survey combining social science and epidemiology
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
Cash usage decreases as confidence in banks rises – research
Research included in MAS review flags importance of psychological factors in cash usage
ECB publishes framework for assessing prudential spillovers
Detailed paper aims to help regulators assess cross-border effects of macro-prudential policies