Europe
Eurozone approaching ECB’s worst-case scenario – Lagarde
Economy likely to shrink by over 10% in 2020, says ECB president
French governor says ECB could directly fund loans
Villeroy de Galhau also calls for flexible emergency purchases but rules out yield curve control
ECB warns banks face significant losses due to Covid-19
Central bank stresses fiscal and monetary interventions have contributed to stabilise markets
ECB minutes hint at further easing measures
Governing council discussed expanding size and scope of pandemic purchase programme
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
Eurozone saw limited price convergence from 2001–11 – Bank of Spain
Researchers say this limited long-term alignment should be added to central bank policy framework
Mersch says retail CBDC could destabilise financial system
Central bank digital currency could worsen bank runs and harm disintermediation, ECB official says
ECB widens scope of female recruitment targets
Central bank’s efforts to recruit women will now reach down past senior roles
ECB backs use of EU central banks for job subsidies
“Sure” scheme to pay job subsidy funds would be within EU law, ECB says
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
ECB research finds Phillips curve still matters
Underlying relations are complicated, but slack and expectations still drive prices, economists say
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
Payment giants ask EBA for PSD2 extension
Covid-19 disruption puts strong customer authentication deadline in doubt
The IFF China Report 2020: Regional and multilateral co-operation
The Belt and Road Initiative has expanded to corners of the globe never thought possible; investment in Latin America, Africa and the Caribbean has strengthened free trade and fostered positive development. But there is still work to be done to ensure a…
Covid-19 could cut eurozone GDP by 5%, 8% or 12% in 2020 – ECB
ECB publishes alternative scenarios for the uncertain economic outlook created by the pandemic
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but the ECB has not expanded asset purchases
Can growth in developing Asia be made more sustainable?
The structure of the global economy will be reshaped by Covid-19, and what happens in Asia will be crucial, writes Philip Turner
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
ECB publishes framework for assessing prudential spillovers
Detailed paper aims to help regulators assess cross-border effects of macro-prudential policies
ECB changes collateral rules in effort to shield bank funding
Assets below investment grade will be accepted by ECB as collateral until September 2021
Most eurozone states experience fiscal spillovers – ECB paper
Eurozone fiscal policy may be especially effective when rate changes have little impact, paper says