European Central Bank (ECB)
ECB weekly asset purchases raised to €21.1 billion
On March 11, central bank promised to conduct purchases “at a significantly higher pace”
Lagarde highlights uncertain outlook due to vaccination
ECB ready to adjust policy tools to ensure inflation increases towards target
Currency initiative: The ECB and US Federal Reserve’s CDI2 standards
The issuers of the world’s two most international currencies have created an important new technical standard to support more efficient cash management
ECB’s de Guindos calls for prompt action on climate change
ECB warns of “systemic risk” as it unveils preliminary results of eurozone-wide climate stress test
Eurozone inflation remains stable
Official figures show inflation at 0.9%, unchanged from January
New monetary frameworks involve risk trade-offs – IMF’s Adrian
Lower-for-longer rates may help to avoid deflation, but could contribute to medium-term volatility
People: Elderson approved as vice-chair of ECB supervisory council
Former Canadian deputy Wilkins joins insurance company; Japan nominates new policy board member; Rwandan deputy gains role at African Union Commission; and more
ECB to increase asset purchases
Lagarde says PEPP decision was unanimous as ECB staff increase inflation and growth forecast
Lagarde expected to clarify ECB bond-buying plans
ECB has lowered purchases as yields have risen and spreads have increased
Greenpeace lands activists on ECB roof
Stunt publicises new study arguing collateral framework favours high-carbon industries
Bundesbank retains profits to build up risk provisions
Weidmann says risk provisioning is “first step” due to increased exposure on policy portfolio
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target and has no need for yield curve control. Centeno believes NextGenerationEU fund could serve as template for a future…
ECB pushes for greater crypto asset powers
Central bank suggests changes to afford it greater oversight of e-money issuers
Irish central bank to gain stronger anti-counterfeiting powers
Draft law makes Irish central bank national currency analysis centre and gives it enforcement role
Eurozone needs fiscal stimulus – ECB’s Schnabel
ECB board member says raising eurozone inflation needs fiscal evolution and structural reform
Fed’s ‘operational error’ disrupts key payment services
Fedwire, ACH and other transfer systems suspended for several hours
ECB profit falls by 30% in 2020
Decrease is mainly due to lower Treasury yields reducing income on dollar portfolio
Green finance: new initiatives in China, Europe and Americas
Eurosystem adopts common investment principles; China pushes climate modelling; and more
French governor calls for ECB to make radical carbon shift
ECB is not sufficiently accounting for exposure to climate risk, says Villeroy de Galhau
People: BoE’s executive director to leave
Alex Brazier to leave BoE in September; ECB looks for senior climate official
Central banks look to shockproof models in wake of Covid-19
The Covid-19 crisis caused many central bank models to break down. Economists at the St Louis Fed, Bank of Spain and ECB were quick to innovate and say they will continue testing new tools
ECB paper analyses US home ownership
Labour market dynamics and rising house prices account for generational inequality, researcher says
Eurosystem adopts common sustainable investment principles
Eurozone central banks aim for climate disclosures on non-monetary policy portfolios in two years