News
ECB warns banks face significant losses due to Covid-19
Central bank stresses fiscal and monetary interventions have contributed to stabilise markets
Poloz calls for action to avoid deflationary spiral
It is critical to avoid deflation as it interacts “horribly” with debt, outgoing BoC governor says
People: Carmen Reinhart to be World Bank chief economist
Carmen Reinhart to take over from Penny Goldberg at World Bank; BIS picks Hong Kong hub head; Libra Association appoints chief executive
People: World Bank appoints new vice-president for integrity
BIS appoints new deputy head of banking, and Bank of Finland recruits sustainability specialist
Turkish central bank cuts rates again
CBRT makes ninth consecutive cut since July 2019 but analyst warns strategy is “unsustainable”
Sarb carries out fourth consecutive rate cut
Sarb says banks can apply for looser prudential requirements on “case-by-case” basis as it cuts rates to record lows
Indian MPC cuts rates to record low in unscheduled meeting
RBI says Covid-19 is having a more severe economic impact than anticipated
Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis
FOMC considers more aggressive forward guidance
Officials discussed state-contingent forward guidance and yield curve control, April minutes show
Bailey confirms BoE is considering negative rates
“I have changed my position a bit,” governor tells lawmakers, as UK inflation falls drastically
Banque de France CBDC project uses blockchain to settle transactions
Central bank and French lender use blockchain platform to pay for €40m securities tokens
ECB to integrate climate risks into supervision
Climate change is pushing banks to adapt risk management, disclosure, governance and business strategies
UK issues negative-yielding bond as inflation wilts
Inflation dropped sharply in April amid the coronavirus lockdown
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
Economists debate monetary financing of China’s government debt
PBoC adviser dismisses idea of monetising government bonds despite calls from Ministry of Finance think-tank
Final Fed lending facilities to go live this month
Complexity of main street facility has been “in a class by itself”, Jerome Powell says, as lawmakers criticise delays
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds
Lebanese central bank official arrested over currency allegations
Currency crisis deepens as prime minister and central bank trade accusations
Liberian government releases four central bank officials
Government official says it is “going after” central bank board despite unclear evidence of alleged theft
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
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
Chile requests flexible credit line from IMF
IMF’s Georgieva says she will recommend Chile receives access to $24 billion credit line