Coronavirus
Is there a path between the Covid abyss and chasm of financial risk?
Macro-prudential policies are being used to prevent economies from falling into the Covid abyss while also ensuring that a correction in ever-higher asset prices do not crush the economy. Are both objectives achievable?
Fed and US Treasury in public dispute over emergency aid
Fed disagrees with Treasury secretary over proposal to end five stimulus programmes
Philippines central bank makes unexpected rate cut
Inflationary pressures are low and cut will boost confidence, central bank says
Kganyago says Sarb needs support from fiscal and macro policy
Governor says monetary policy cannot improve South Africa’s growth alone
Eurozone inflation remains at -0.3%
Persistent deflation will be key focus at next ECB policy meeting on December 10
Regulators voice concerns over cloud risk
Failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
Lower r* demands new ECB inflation target – economists
Average inflation targeting is one possible alternative, says Jordi Galí
German contactless payments rose due to Covid-19
Bundesbank board member says pandemic changed consumers’ use of debit card system
Iceland cuts rates to new record low of 0.75%
Central bank revises down 2020 GDP forecasts by more than one percentage point to -8.5%
US Senate rejects Shelton for Fed job
Republicans fail to muster enough support for controversial candidate, but second vote is possible
Egyptian central bank cuts policy rate again
Move is needed to support economy against second Covid-19 wave despite rising inflation, MPC says
FSB to tackle systemic risk in non-bank sector
Regulation likely but policy-makers want to avoid damaging an important funding source
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
Pandemic has impacted post-crisis reform work – FSB
“Substantial work” still outstanding in important areas, Financial Stability Board says
Zambia prepares for debt default
Talks on payment freeze fail as G20 prepares to debate further debt relief
Eurozone must not cut fiscal support too soon – IMF official
Environment favours public investment, but spending must be transparent, says fiscal affairs director Vítor Gaspar
Powell, Lagarde and Bailey express caution on CBDCs
Jay Powell says Fed must get any future CBDC right, rather than “being the first”
RBNZ launches funding for lending programme
Central bank avoids taking rates negative but says the policy remains an option
Lagarde signals Covid-19 stimulus will remain active for longer
Asset purchases and bank lending programmes will be key ECB tools; rate cut not mentioned
IMF approves $370 million credit facility for Afghanistan
New programme aims to support country’s recovery from Covid-19
Riksbank publishes list of companies eligible for bond purchases
List includes 50 companies and will be updated on the first weekday of the month
BoE will not use climate stress tests to set capital buffers – Bailey
Andrew Bailey reveals new details of tests, with launch set for summer of 2021
Malawi’s central bank cuts interest rates as inflation outlook improves
Central bank projects annual inflation to fall below 9% this year
Currency Benchmarks 2020 report – the data behind the cash cycle
Perspectives on staffing, circulation, forecasting, fraud, substrate choice, outsourcing and climate risk