International
Central banks and banks: a changed relationship
The development of large, complex international capital markets has reshaped the relationship between central banks and their commercial counterparts
Covid-19 will not delay World Economic Outlook – IMF’s Rice
Communications director says reports will be published as normal
Monetary policy can help buffer Covid-19 impact – RBA’s Debelle
Deputy governor says rate cuts will boost spending despite lag and reduce exchange rate volatility
Coronavirus policy responses raise financial stability threat – IMF official
Policy-makers must be alert to threat of rapid liquidation of risky assets, Tobias Adrian says
IMF’s Gopinath advises central banks on cocktail of measures to fight virus
IMF chief economist says central banks should stand ready to provide liquidity
Financial crises harm innovation – BIS paper
Loss of access to bank credit can harm research spending for more than 10 years, study finds
Covid-19 unleashes major market shock
Oil prices tumble, dragging down stock markets worldwide; sovereign bonds rally
Facebook may bow to regulatory pressure on libra
Basic goals have not changed, says tech giant, but reports suggest network will offer libra alongside other assets
OECD supports swap line use in Covid-19 response
Adequate liquidity must be provided to prevent bankruptcy should cashflow issues arise – report
IMF makes $50 billion available to fight coronavirus
Kristalina Georgieva calls on IMF members to “fully recharge” catastrophe fund
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, the book offers countries advice in making a sea change in their economic statuses
IMF-World Bank spring meetings to go virtual
Institutions opt not to bring thousands of delegates to Washington, DC, but key meetings and document releases will go ahead
ECB’s asset purchases had global spillovers – IMF research
Eurozone investors significantly rebalanced into foreign advanced-economy securities, researchers find
BIS research finds 20% drop in active correspondent banks
Retreat from correspondent banking could drive people into “unregulated channels”, authors warn
G7 leaders avoid committing to co-ordinated virus response
Central bankers and finance ministers “stand ready”; Carney says BoE has launched contingency measures
Major central banks ready to respond to coronavirus
Fed, ECB and Bank of Japan say they are willing to act; central bank events disrupted
BIS paper lays out ‘crucial’ design choices for CBDC
Challenge is to design a currency that balances credibility and convenience, says Hyun Song Shin
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Book notes: After the crash, by Sharyn O’Halloran and Thomas Groll
The book seeks to identify seeds of the next crisis, and the overriding impression is a plea for more regulation
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai
Fintech creating data gaps, BIS survey finds
New players do not always fit neatly into current statistical frameworks
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
Finance firms must take further steps on climate change – Carney
BoE governor calls for broadening of climate effort, including push for better risk management
Too early to speculate on coronavirus impact – Fed vice-chair
Experts urge Americans to brace for “inevitable” spread of the virus in the US