Coronavirus
RBA reserves decline sharply during Covid-19 crisis
Official reserves declined from $46.7 billion in March to $33.5 billion in August
People: African Development Bank president re-elected for second term
AfDB president gets further five years as chief; Burundi and Guinea appoint vice-governors
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
BIS paper studies lifecycle of zombie companies
Number of zombie firms has risen substantially, and their future prospects are not good, authors say
IMF praises Georgia’s non-bank overhaul, but says issues remain
“Issues and challenges” could still threaten the sector’s viability, fund staff warn
Costa Rica launches new conditional lending facility
Banks can receive funding on the condition they submit lending plans to the central bank
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
MAS ramps up liquidity support
Financial sector will have increased access to Singapore and US dollar funding
Brazil launches new 200 real banknote as hoarding continues
New banknote worth $37 features new security features, and has been sized to ensure quick dispersal
Alternative funds play key role in spreading shocks – study
Spillovers rose dramatically during Covid-19 stresses, authors find
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says Bank of England deputy
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Book notes: Quest for restoring financial stability in India, by Viral Acharya
A definitive contribution to the political economy of central banking in emerging economies, but Acharya does not acknowledge the challenges moving forward
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
Record-low inflation may require ECB to boost PEPP purchases
HICP index expected to decline year on year by 0.2% in August; core inflation at record-low 0.4%
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
RBA hones in on data management as part of 2021 strategic plan
Central bank will look to bolster technology infrastructure
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
DNB president talks about the temporary nature of unconventional policies, the importance of inflation target ‘bands’, the role of central banks as ‘circuit-breakers’ and ECB decision-making under Christine Lagarde
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Central bank comms need “second sea change” – Canadian governor
Pandemic has shown importance of transparency and communications, Tiff Macklem says
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns that post-pandemic labour markets will need new public policies
Covid-19 could depress growth for decades – Jackson Hole paper
“Pyschological scarring” could severely stunt future investment, researchers argue