Central Banking
Central Bank of Colombia cuts rates and unveils liquidity support
Central bank cuts main rate and offers liquidity in US dollars and pesos
Covid-19 macro effects could last 40 years – research
Research from University of California says natural rate could take decades to return to normal
ECB asks eurozone banks to stop dividends
Bank of Israel also asks banks to reassess the distribution of dividends
China makes surprise rate cut to resist crisis
PBoC unexpectedly cuts the seven-day repo rate while injecting liquidity, suggesting a willingness to deploy stronger countercyclical measures
Sarb consults on Covid-19 regulatory easing
Central bank mulls lowering Pillar 2A capital requirements
Bank of Canada launches large-scale asset purchases
Measures target market function more than monetary easing, says governor Stephen Poloz
Flatter Phillips curve calls for average inflation targeting – Brookings paper
Average inflation targeting could be “especially effective” in current environment, researchers say
Pricing the lives saved by coronavirus policies
How does the effort to reduce risks to human life from Covid-19 compare with the economic losses?
US unemployment could hit 32%, St Louis Fed says
Unemployment insurance claims see greatest ever post-war rise
Riksbank to buy commercial paper and expand counterparties
“Everything has changed”, business survey finds
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
Basel III reforms pushed back to buy time for coronavirus response
Basel Committee chief says banks and supervisors need operational capacity to cope with the virus shock
Norges Bank appoints new SWF chief
Nicolai Tangen will take the helm at the world’s largest sovereign wealth fund in early September
Brazil unveils measures to boost liquidity
Central bank estimates action will boost credit supply by 1.2 trillion reals ($238 billion)
Is credit policy the new normal for the Fed?
Three former senior Fed officials look back on an unprecedented month of policy action
Fed selects BlackRock to manage asset purchases
Fed taps into firm’s experience in corporate debt management in move reminiscent of 2008 crisis
IMF releases first emergency Covid-19 funding to Kyrgyz Republic
Country is battling with balance-of-payments gap of $400 million
RBI follows ECB with crisis-fighting TLTROs
Central bank slashes rates and launches targeted liquidity measures
Fed’s balance sheet could see massive further growth
Response to coronavirus has already pushed Fed’s holdings up to record levels
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus
Swiss central bank launches unlimited refinancing facility
SNB asks federal government to reduce countercyclical buffer to 0%
ECB drops bond-holding limits for crisis response
€750bn stimulus programme will not be subject to previous limits on holding countries’ bonds
BoE on hold as early indicators point to rapid UK downturn
Policy on hold after extraordinary actions in recent weeks; network of agents reports credit conditions are tightening
Sarb to buy government bonds
South African central bank also broadens refinancing operations to boost liquidity