Coronavirus
US Congress strikes stimulus deal with weaker curbs on Fed powers
Previous wording would have prevented Fed from ever recreating the ‘Main Street’ programme
Former RBI official Rabi Mishra on macro-pru in the post-Covid world
The former executive director discusses challenges for supervision, global governance reform and the rise of fintech
Is the integrity of Afghanistan’s central bank under threat?
Acting governor fires key staff and is accused of undoing reforms, while World Bank appears ready to suspend funds; administration and other donors show few signs of learning from Kabul Bank scandal
SNB still ready to depreciate franc despite US condemnation
Swiss central bank stands firm after US Treasury labelled Switzerland a currency manipulator
Republican lawmakers seek curbs on Fed’s emergency facilities
Treasury backs lawmakers in bid to insert wording to bar Fed from restarting Covid loan programmes
Bank of Mexico holds rates as board splits
Change to rate-setting board’s make-up may herald change in policy stance, say observers
Fed’s dollar swap lines and ‘Fima’ facility to run nine more months
FOMC keeps main policy tools on hold, but shifts guidance on asset purchases
BoE’s MPC says UK outlook is ‘unusually uncertain’
Outcome of Brexit talks and evolution of pandemic leave future cloudy, BoE says
Fed faces longer-term challenges under new policy strategy
Steve Kamin warns central bank may not have paid enough attention to why r* has fallen
ECB establishes tough conditions for banks to resume dividends
Dividends must remain below 15% of cumulative profits in 2019-20 and not higher than 0.2% of CET1 ratio
Non-banks continue to eat into banks’ market share
FSB monitoring finds patterns of links between banks and non-banks are changing
A ‘love-hate’ relationship with ESG screens
ESG screens seen as a first step in adopting sustainable investment practices, so why do so few central banks use them?
IMF’s Adrian weighs balance between stimulus and stability
Central banks need to incorporate macro-financial stability in decision-making processes, he says
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Bank of Israel to offer repos to non-bank credit providers
Measure is a bid to foster competition, and lower households and firms' financing costs
ECB adds crucial tweak that could limit PEPP purchases
Hawkish governors secured wording that bond-buying allocation “need not be used in full”
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
ECB announces major boost to pandemic programmes
New TLTRO programme will offer banks financing at negative rates to maintain consumer lending
Most authorities failed to build up buffers before Covid hit – Carstens
Supervisors face more problems once emergency support measures are withdrawn, says BIS chief
The long-term impact of Covid-19 on banknote demand
The coronavirus pandemic has challenged cash usage assumptions at a time when central banks make only limited use of longer-term forecasts
ECB set to boost QE purchases and extend duration of stimulus
Eurozone central bank is widely expected to increase emergency asset purchases by around €500 billion on December 10
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
Climate change on the agenda for most economics departments
Central banks explore a wide range of topics, with some differences between advanced economies and EMEs
Riksbank stresses pandemic’s unpredictability
Two board members thought it unnecessary to increase asset purchases, minutes show