Coronavirus
IMF staffers warn of looming sovereign debt crises
Governments and markets should agree to extend bond maturities, IMF says
Bank of Spain paper warns over eurozone’s public debt
Individual eurozone countries likely to be more vulnerable due to recent debt increases, paper says
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
ECB changes largest eurozone banks’ leverage ratios
Latest emergency response to Covid-19 should raise banks’ leverage ratios by about 0.3%, ECB says
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
Diversification makes gold shine brighter – panellists
Negative sovereign yields boost gold’s attractiveness among reserve managers
EM reserves ‘crucial’ in mitigating Covid-19 outflows, says Mauritius governor
Foreign exchange buffers helped to mitigate volatility in financial markets
BIS research maps out links between banks and non-banks
First attempt at global mapping reveals significant scale of interconnections
Reserve managers weigh options to escape low yields
Longer-duration and emerging-market bonds may offer the way forward to portfolio managers
SBP offers overseas Pakistanis access to digital banking services
Prime minister says he hopes the Roshan Digital Account will help channel foreign exchange to Pakistan
Estonian governor criticises government’s fiscal stance
Spending was too high before coronavirus, and is making all citizens poorer, argues Madis Müller
Mauritius governor defends central bank’s funding of government
“Unprecedented times” require “unprecedented set of measures” including $1.5bn funding of government, says Harvesh Seegolam
Lower-income countries generate highest reserves growth
Most reserves portfolios appear to have weathered the Covid-19 crisis well
BoE reveals Covid-19 expenditure
Central bank spent over $14,000 a week on additional cleaning
Nigerian president tells central bank to change forex policy
Central bank defends industrial subsidies and says border has been closed to prevent smuggling
Asian reserves proved more resilient in Covid crisis – reserve managers
Limited use of Fed’s ‘Fima’ facility highlights improved reserve management, says panellist
Riksbank starts corporate bond purchases
Swedish central bank will buy $1.1 billion in these bonds until June 30, 2021
Flu pandemic of 1918 hit poor economies hardest – ECB paper
Researchers say evidence indicates lower income countries may be worst hit by Covid-19
ECB has ‘no room for complacency’, Lane says
Chief economist stresses ECB is ready to expand stimulus after Lagarde appeared to downplay risks
ECB leaves policy unchanged
Lagarde says she will not comment on euro’s exchange rate against the dollar
Euro failing to challenge US dollar in global reserves – CBI Benchmarks data
Among non-European central banks euro sovereign debt accounts for just 4.1% of reserves; negative rates act as a major barrier, say reserve managers
Modellers should not exclude pandemic-era data – ECB paper
Excluding pandemic data from time series would “vastly underestimate uncertainty”, authors argue
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
Israeli reserves reach new record high
Central bank foreign exchange purchases to finance the government deficit in 2020 partly account for increase