Coronavirus
New York Fed paper examines MBS price dislocations in March
Flight to safety and dealer balance sheet constraints widened cash-forward basis, researchers find
New Fed discount window could ease bankruptcy crisis – researchers
Many companies may not endure a further liquidity shock
RBNZ boosts asset purchases and prepares new policies
Negative rates and funding for lending programme under “active preparation”
Improvements in US consumer expectations halt in July
Households more pessimistic as Covid-19 continues to spread, New York Fed survey reveals
Emerging markets face L-shaped recession – paper
Researcher works back from growth forecasts to see how Covid shocks might play out
Former RBI deputy attacks government over fiscal dominance
Recent actions by Indian government are “tantamount to coercive monetisation”, says Viral Acharya
PBoC official joins policy lender after clearing up Baoshang Bank
Zhou Xuedong joins China’s biggest policy lender, as PBoC declares Baoshang Bank bankrupt
US unemployment falls to 10.2%
Miscalculation errors continue to understate headline figures, Peterson Institute research finds
Emerging markets face ‘uphill battle’ against pandemic – IMF staff
EME countries face limited fiscal space and possible solvency crisis, warn researchers
Australian central bank cuts growth and jobs forecasts
RBA forecasts 10% unemployment by year’s end as official says recovery will be ‘uneven’
Brazil plans new note as cash demand hits record high
Central bank will introduce 200 real banknote as Brazilians start to hoard cash
World Bank grants Vietnam $6.2 million Covid-19 aid
Central bank deputy says support is ‘meaningful and necessary’ as virus returns to country
Romania cuts rates as rising Covid-19 cases hurt economy
Central bank says resurgent pandemic risks recovery and calls for more clarity on fiscal policy
Brazil’s central bank cuts rates to record low
MPC says there is limited space for more monetary policy stimulus as crisis continues
BoE says negative rates ‘in toolbox’ and forecasts slow recovery
First “proper” forecast since Covid-19 outbreak gives little hope of a V-shaped recovery
IMF agrees aid for small Southern African countries
IMF says Eswatini and Lesotho face major challenges from pandemic and structural problems
New York Fed study exposes ‘disturbing’ reality for black-owned firms
Data shows black-owned firms were disadvantaged from the start of the pandemic
Covid-19 challenges IMF debt-restructuring framework
Process needs tweaking to address pandemic-related issues, former IMF general counsel says
How will Covid-19 hit central banks’ financial results?
The Covid-19 crisis has affected central bank incomes from seigniorage and other sources. But by how much, ask Zbigniew Polański and Mikołaj Szadkowski
IMF economists call for action on global imbalances
“Excessive” imbalances exist in 40% of cases, though they have narrowed slightly
Lane stresses inflation will determine ECB’s PEPP purchases
Lower inflation outlook could mean the programme will remain longer than anticipated
BIS’s Restoy: Covid-19 blurs lines between policy instruments
Prudential policies have taken on an explicit economic stabilisation role for the first time, official says
ECB says pandemic measures have been effective
Response to Covid-19 pandemic lowered bond yields and may have stopped financial panic
Flight to safety was not enough to fund credit line draws – Fed research
Many banks had to turn to non-deposit forms of borrowing, researchers find