Bonds
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”
FOMC doubles ceiling for reverse repo bids
Participating institutions can now borrow up to $160 billion per bid
BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
BIS paper explores Fed’s ‘whatever it takes’ moment
Covid facility had most of its impact without the Fed actually buying any bonds, authors find
Podcast: Diversifying portfolios post-Covid
BNP’s Johanna Lasker talks about why central banks should consider equities and Tips
PBoC widens offshore bond trading for Chinese investors
Large banks will be able to deal in foreign bonds via Hong Kong under new scheme
Bank of Finland targets 2050 carbon neutrality for investments
Greening FX reserves will only be possible if countries meet their Paris climate goal, central bank says
Fed saved US from even larger pandemic downturn – ECB paper
Unemployment would have risen by 20% more without Fed’s bond buying, researchers find
Canadian governor outlines next phase of policy
Governor says Bank of Canada will keep asset holdings unchanged in “reinvestment phase”
Pandemic Treasuries market calmed quickly – research
Dallas Fed analysis finds “headwinds” early on, but not lasting pandemic disruptions
RBA delays bond purchase review until 2022
Central bank pushes back review as new Covid outbreak threatens to delay recovery
Central banks can improve reserves handling – World Bank
Direct board involvement, trading office setups and finance ministries all matter, report finds
Bolivian ex-governor warns pension law poses bank risk
Current governor has stayed silent on risks posed by measure, former governor Morales says
Indonesian central bank to buy $30 billion debt from government
Central bank will receive below-market yield for most purchases in two-year programme
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
BIS and HKMA start work on green bond infrastructure project
Digital platform based on blockchain aims to improve green bond market’s transparency
From Covid‑19 recovery to a greener economy
BNP Paribas asks, in a world challenged by the Covid‑19 pandemic and empowered by recovery from it, what’s next for the central banking sector? Also discussing how banks and central banks can collaborate to encourage sustainable growth and build a better…
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
Negative yields decline in Dutch bond markets
Sovereign bonds account for majority of securities yielding negative returns
Iran’s Hemmati warns against monetary financing
Former governor mounts criticism of departing President Rouhani
BoE on hold as inflation looks set to soar to 4%
Committee hints at need for “modest tightening” soon, but says asset purchase programme will not unwind until interest rates reach 0.5%
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
SNB reserves hit Sfr1 trillion
Equity holdings now account for 23% of the portfolio