Coronavirus
The new era of money supply and its impact on policy
The empirical relationship between money and inflation has changed, writes Manmohan Singh, with Apoorv Bhargava and Peter Stella
ECB rate-setters ‘broadly agree’ with loose policy
Governing council members warned financing conditions were still tighter than in December 2020
Bank of Mexico holds rates despite above-target inflation
Central bank keeps policy rate at 4% as inflation rose year on year by 6.1% in April
Danish central bank urges use of payments data in forecasts
Data provides good forecasts during normal times, but deteriorates in stressed conditions
RBI set to launch second round of asset purchases
Indian central bank seeks to curb borrowing costs amid severe Covid-19 outbreak
IMF urges Mauritius to reform central bank
Bank of Mauritius made loan to government in 2020 and funds investment body with reserves
Paycheck protection facility supported lending – Fed paper
Study finds liquidity facility helped banks lend more to small businesses during the Covid-19 crisis
BlackRock research pushes back at concerns over bond ETFs
BIS paper had suggested ETF sponsors may have sold illiquid assets to discourage redemptions
Pandemic did not harm public trust in Dutch banks – DNB survey
Central bank study says 80% of participants maintain confidence in financial sector
Brazilian central bank hikes rates as inflation rises
Board says it is likely to announce another rate hike in June but says inflationary shocks are temporary
RBI steps in with liquidity amid worsening Covid outbreak
Central bank “stands in battle readiness”, governor says, as virus death toll climbs
Implementing Basel III accords must not be delayed – ECB’s Enria
Financial sector is calling for further postponement but this will bring no benefits, supervisor warns
Colombia’s central bank revises up growth forecast
Board maintains rates at 1.75%, as IMF says delays in vaccination could hamper recovery
Insolvencies could jeopardise EU recovery – ESRB report
ESRB calls on governments and banks to plan a smooth phasing-out of support measures
Iran’s central bank tries to unfreeze foreign assets
Governor seeks to reduce effects of US sanctions, but expert says nuclear talks will be key
Fed plays down US economic rebound
Powell says economy still “a long way from our goals” as FOMC holds policy steady
Riksbank maintains stimulus as it revises up growth forecasts
Swedish central bank says a return to negative rates is possible if inflation target is imperilled
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
IMF praises Chile’s Covid-19 response
Fund warns against new withdrawals from pension system
Fed must clarify future of QE, IMF says
IMF warns that rising longer-term Treasury yields could have major impact
BoE publishes emails showing unsuccessful lobbying by former PM
David Cameron urged BoE to support Greensill Capital during pandemic, correspondence shows
Eurozone’s public debt rose sharply in 2020 – official figures
Public debt in the bloc jumped to 98% of GDP in wake of Covid-19, Eurostat says
ECB makes no change as Lagarde warns of uncertainty
Lagarde says price pressures remain weak and cautions over possible Covid-19 variants
Bank of Canada tapers quantitative easing programme
Despite continuing pandemic, “the outlook has improved”, says Macklem