Bank of Japan (BoJ)
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
Bank of Japan to begin testing CBDC
BoJ publishes report on feasibility of digital yen
NY Fed economists weigh in on yield curve control debate
Jury still out on Japan’s measures to control yield curve but there is “one clear benefit”, researchers say
Balance sheets could grow by 23% of GDP in largest advanced economies – BIS
Economists forecast balance sheets will remain large for the foreseeable future
Central banking enters a new era
‘Monetary financing’ and ‘buyer of last resort’ traps lie in wait
Bank of Japan appoints first female executive director
Tokiko Shimizu becomes first female executive director since bank was established in 1882
Bank of Japan steps up stimulus with unlimited JGB purchases
BoJ drops limit on government debt and quadruples corporate bond cap
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime
The Tokyo Olympics: downside risks prevail
BoJ’s latest stimulus effort seems to be weak, and comes at a time when benefits of hosting Olympics may be overstated
Asian central banks rush to roll out easing measures
Japan expands asset purchases; Korea cuts rates; China extends lending and HKMA cuts capital buffer
Central banks activate contingency plans amid Covid-19 pandemic
Rotating and remote team working aims to reduce contagion risk
Central banks and banks: a changed relationship
Development of large, complex international capital markets has reshaped relationship between central and commercial banks
Fed cuts rates 100bp as central banks launch joint action
Fed unveils rate cut and QE as central banks work together to ease dollar liquidity
Covid-19 unleashes major market shock
Oil prices tumble, dragging down stock markets worldwide; sovereign bonds rally
What can the ECB do now?
Central bank is facing coronavirus shock with limited room for further policy measures
Inflation targets back in the spotlight
Monetary policy can do little to offset impact of Covid-19
Major central banks ready to respond to coronavirus
Fed, ECB and Bank of Japan say they are willing to act; central bank events disrupted
Economist joins Bank of Japan’s rate-setters
BoJ board member in favour of continued QE but has expressed doubts on negative rates
ECB and BoJ point to major problem in DLT-based payments
Latest “Project Stella” report says central source of information could create single point of failure
Cœuré and Cunliffe to lead research group on CBDCs
Six central banks and the BIS will explore use cases and share knowledge
Central banks must learn lessons of BoJ’s inflation target rise – Fed paper
Failure to hit old targets and disagreement among policy-makers will harm credibility, paper argues