News
What would yield curve control mean for Fed’s asset purchases?
Policy may imply shift in rationale from crisis to recovery, and potentially more volatility in purchases
Bangladeshi governor’s term extended amid pandemic crisis
IMF approves aid worth 50% of Bangladesh’s quota and says country faces major challenges
Fed lifts lid on ETF purchases
Biggest holding is of a BlackRock ETF, the same firm managing the purchases
Time for mandatory climate disclosures is now – Carney
Former BoE chief says Covid-19 provides an opportunity to introduce comprehensive disclosures, as RBNZ governor says any delay could disrupt economic prosperity and social cohesion
Carstens, Jordan, Weber: respect the boundaries of fiscal and monetary policy
Axel Weber says huge US deficit could pose problems for global financial stability
Norges Bank signs working agreement with Nicolai Tangen
Tangen’s appointment as SWF chief had been questioned due to his relationship with his predecessor
Bank Indonesia criticised after direct purchase of government debt
World Bank economist warns primary market purchases could undermine confidence
Fed could exploit helicopter money with digital currency system – former officials
Simon Potter and Julia Coronado propose recession insurance bonds, consumer QE and Fed-backed digital currency as crisis tools
ECB’s Enria unsure banks will dip into capital buffers
Anxiety over investor and rating agency reaction may limit banks’ use of Covid relief measures
Banxico forecasts Mexican economy could fall by 8.8% in 2020
Central bank stresses the profound uncertainty to which the economy is subject
Bank of Korea cuts policy rate to new record low
Bank of Korea slashes key rate to record low of 0.5%; economy is expected to grow at the slowest pace in over two decades due to Covid-19
NGFS proposes five steps to integrate climate risks into supervision
Guidelines follow ECB’s public consultation on adding climate risks to its supervisory work
No date in sight for Fed Board nomination vote
Delays in voting on Judy Shelton and Christopher Waller leave board understaffed during crisis
Crisis exposes flaws in US financial stability regime
Former Fed chair Janet Yellen urges Congress to reform US’s financial stability framework, after failure to curb corporate leverage in the lead-up to lockdown
IMF agrees Ukraine aid after government backs banking reform
Move is major setback for billionaire accused of harassment campaign against central bank
European Commission pushes for €750 billion budget expansion
Shared financial resources designed to support weakest EU members while spreading cost
OCC chief resigns immediately after finalising controversial regulation
FDIC abandons support at final hour after facing strong criticism from Democratic senators
Sarb’s Kganyago ‘concerned’ over sovereign-bank links
Financial stability report warns banking sector is exposed to overstretched government finances
Iranian central bank announces takeover of militia-owned banks
Five banks owned by Revolutionary Guards to be taken over by country’s largest lender
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”