Bonds
ECB expected to sharply increase PEPP purchases
Central bank could start reinvesting PEPP securities and increase supranationals’ share
Stress levels rising: investment funds and the Covid-19 shock
Extreme market stresses due to Covid-19 are underscoring the central role non-banks play in crisis contagion, as in 2008. Were regulators better prepared this time?
Bond purchases will not imperil independence – Brazilian governor
Roberto Campos Neto stresses temporary asset purchases face strict limits
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
Carstens, Jordan, Weber: respect the boundaries of fiscal and monetary policy
Axel Weber says huge US deficit could pose problems for global financial stability
Fed could exploit helicopter money with digital currency system – former officials
Simon Potter and Julia Coronado propose recession insurance bonds, consumer QE and Fed-backed digital currency as crisis tools
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
Rising to the challenge – Reserve management in an uncertain world
Amid unprecedented measures being taken by central banks and governments to combat the global Covid‑19 pandemic, BlackRock‘s Stephan Meschenmoser, Laszlo Tisler and Crystal Wan compare and contrast BlackRock’s model portfolio against its high-grade…
ECB minutes hint at further easing measures
Governing council discussed expanding size and scope of pandemic purchase programme
Economists debate monetary financing of China’s government debt
PBoC adviser dismisses idea of monetising government bonds despite calls from Ministry of Finance think-tank
Pressure builds on central banks to ‘monetise’ sovereign debt
Sarb is the latest institution facing calls to directly purchase Covid-19 related government debt
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
Hong Kong’s Exchange Fund reports record loss in first quarter
State fund’s assets lose $11 billion and investment chief warns of further losses
UK statisticians turn to online prices to cope with Covid-19 lockdown
Around 80% of prices are usually collected in person, forcing rethink of data gathering approach
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
Fed could purchase $750 billion of corporate debt in new facilities
Fed clears staff to purchase investment- and non-investment-grade debt and ETFs
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but the ECB has not expanded asset purchases
Can growth in developing Asia be made more sustainable?
The structure of the global economy will be reshaped by Covid-19, and what happens in Asia will be crucial, writes Philip Turner
Riksbank open to future rate cut
Swedish central bank keeps stimulus package unchanged in monetary policy meeting
Riksbank unveils details of local bond purchases
Swedish central bank to buy up to Skr5 billion from Kommuninvest i Sverige
Bank of Mexico cuts rates in emergency meeting
Central bank unveils set of measures to boost liquidity amounting to $30.5 billion, 3.3% of GDP
Riksbank will start buying municipal bonds
Central bank includes new assets in 300 billion kronor purchase programme
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load