News
Is credit policy the new normal for the Fed?
Three former senior Fed officials look back on an unprecedented month of policy action
RBI follows ECB with crisis-fighting TLTROs
Central bank slashes rates and launches targeted liquidity measures
Fed’s balance sheet could see massive further growth
Response to coronavirus has already pushed Fed’s holdings up to record levels
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus
Swiss central bank launches unlimited refinancing facility
SNB asks federal government to reduce countercyclical buffer to 0%
ECB drops bond-holding limits for crisis response
€750bn stimulus programme will not be subject to previous limits on holding countries’ bonds
ECB sharply ramps up asset purchases
Central bank increases securities holdings by €17.4 billion, the highest for two years
Philippines, Taiwan and Indonesia cut rates; Singapore on watch
Asian central banks continue easing to boost virus-hit economies; Singapore slips into deflation for the first time in a decade
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
Finance minister nominated as Curaçao central bank governor
Central Bank of Curaçao and Sint Maarten has struggled to find permanent appointment since 2017
Canadian governor says central bank can buy corporate bonds outright
Poloz’s statement could mean Bank of Canada is considering QE, observers say
Bank of Israel to buy $13bn in government bonds
Central bank also supplying $15bn to banking sector to meet “very high” demand
Riksbank steps up pace of crisis support programme
Swedish financial regulator says publicly-quoted firms must stop equity payouts
US health system likely to be overwhelmed – Minneapolis Fed paper
Policy-makers must support massive healthcare investment and severe social distancing – researcher
RBNZ lowers banks’ core funding ratios
Central bank reduces ratio to 50% to support government’s crisis lending scheme
Bank of Mexico cuts rates 50bp in emergency meeting
Analysts expect further cuts as the economy is expected to enter a sharp recession
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
Fed commits to unlimited bond purchases in massive new programme
FOMC announces radical new measures and calls on other policy-makers to act aggressively
RBNZ launches $30bn government bond-buying programme
MPC asked to vote on package via email to ensure social distancing
China will suffer recession, say Bank of Finland experts
Economic policy response has been fragmented and banks may not respond to PBoC incentives – research
New York Fed to offer $1 trillion per day in repo funding
Move sends message the Fed stands ready to meet any increase in funding demands over coming period
Fed expands lending facility to support municipal bond market
Political pressure mounting to support local governments; senator proposes bill to broaden QE powers
Major bank hid money-laundering evidence – Swedish regulator
Swedish FSA fines Swedbank record $386m over failures as Estonian prosecutors continue AML probe
ECB temporarily relaxes NPL regulation
Central bank estimates lower capital requirements will release €120 billion for lending