Japan
Bank of Japan to start testing digital yen
BoJ embarks on year-long pilot programme to test functionality
The Covid crisis, central banks and the future
Crisis responses were needed, but have exacerbated significant underlying challenges facing central banks
Ulrich Bindseil on the launch of the digital euro
ECB’s payments head speaks about the functionality, tiering and technology of the eurozone’s planned CBDC
Bank of Japan launches policy review as deflation worsens
BoJ considers further monetary easing and extends special loan programmes
Whither the age of ‘magic money’?
EME central banks are more exposed at a time of ‘close to free lunch’ money
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan
The dawn of average inflation targeting
Failure to explain how the Fed calculates its ‘average’ for AIT creates risks
Is there a path between the Covid abyss and chasm of financial risk?
Policy-makers may be asking too much from macro-prudential policies
BIS paper warns economies may stagnate after Covid-19
Author models the structural changes brought about by the coronavirus pandemic
World faces systemic debt crisis, IMF warns
IMF calls for urgent reforms and Japanese finance minister criticises China over debt agreement
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
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed chief supports average inflation targeting and worries about Treasuries market and non-bank regulatory weakness
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’