Japan
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
Coronavirus panic fuels a surge in cash demand
Evidence of hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US
Central bank museums grapple with lockdown
Money museums moved online to keep communicating during Covid-19 lockdown
Central banking enters a new era
‘Monetary financing’ and ‘buyer of last resort’ traps lie in wait
FOMC considers more aggressive forward guidance
Officials discussed state-contingent forward guidance and yield curve control, April minutes show
The ECB, the lockdown and the monetary financing lock
Eurozone’s central bank may need to break its prohibition on monetary financing to fight pandemic
Bank of Japan appoints first female executive director
Tokiko Shimizu becomes first female executive director since bank was established in 1882
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
Bank of Japan steps up stimulus with unlimited JGB purchases
BoJ drops limit on government debt and quadruples corporate bond cap
Policy-makers making risky ‘one-round bet’ on Covid-19 – El-Erian
Former Pimco chief worried about ability of policy-makers to tackle a ‘second wave’
Transfer season
Trade frictions with the US have caused a mass industrial transfer to China’s neighbours. Zhou Chengjun, IFF Academic Committee member and inspector of the Macro‑prudential Policy Bureau of the People’s Bank of China, says that shouldn’t stop China…
The long march to global growth
Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, says that China’s growth is fuelling innovation and modernisation, but financial regulation and governance needs to be tightened up for China to take its place at the top…
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic collapse
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime
Dollar crunch eases as central banks step up swaps action
Core swap recipients will offer daily dollar auctions; cross-currency basis narrows
Fed expands network of swaps to emerging markets
Emerging markets will now have direct access to a dollar backstop, but it is still limited
Banks rush to tap new dollar liquidity facilities
IIF warns of major capital flight from emerging markets as demand for Fed-backed repos surges
Central banks grapple with dollar funding crunch
Indicators of stress hit highest levels since global crisis; dollar backstops may soon be tested
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
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
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