Coronavirus
IMF warns unprecedented central bank support may fuel instability
Investors may be too optimistic about recovery, IMF report says
Fed caps dividends after stress tests show big potential losses
Brainard says decision not enough as tests show loan losses could exceed those during financial crisis
Mexican central bank cuts rates despite rise in inflation
Board makes unanimous decision and stresses “uncertain” economic outlook
Book notes: Stable banks in challenging times, by Andreas Dombret
Dombret’s stability and rule-based compass should be that for every aspiring central banker, worldwide
Philippine central bank cuts rates to record low
BSP cuts rates by 50bp as IMF projects 3.6% GDP contraction in 2020
Podcast: Boston Fed backs community action on Covid-19 and racial inequality
Working Cities Challenge is not only helping economic resurgence in struggling cities, but also fostering better responses to Covid-19 and racial inequality, official explains
Covid-19 has highlighted payments systems problems – BIS report
Pandemic may have strengthened case for central bank digital currency, report says
ECB offers euros to non-eurozone central banks
Eurep facility aims to reduce international risks spilling over to eurozone, ECB says
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding, write Wenhao Li, Yiming Ma and Yang Zhao
IMF outlook worsens as pandemic intensifies
Fund warns of medium-term challenges for fiscal consolidation and trade
Fed to assess banks’ management during Covid-19
Supervisors evaluating business and operational strategies, cyber security and market risk assessments
ECB warns Slovenia over new loan law
Yves Mersch says ECB should have been consulted over law and warns of financial stability effects
Bank of Canada stimulus to continue for ‘very long period’ – Macklem
Economic recovery will be “prolonged and bumpy”, governor Tiff Macklem warns
Brazil close to limit of monetary easing – minutes
Rate-setters stress new interest rate cuts could imperil financial stability
FCA to gain new powers to tackle ‘tough legacy’ issues in Libor transition
Untangling complex legacy issues is looking increasingly difficult as delays mount due to Covid-19
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
Bank of Canada exploring alternative inflation measures – governor
Canadians feeling prices rising despite CPI being negative for two months, deputy governor says
Brazilian central bank cuts rates to record low
MPC says “remaining space for monetary policy stimulus is uncertain”
Covid-19 hampers inflation measurement – Riksbank’s Ohlsson
Too soon to say whether consumption changes during pandemic will become permanent, official says
Chilean government wants to give central bank QE powers
Draft law would allow Central Bank of Chile to buy government debt in “exceptional circumstances”
PBoC will not engage in monetary financing, Guo says
Senior central bank official says China will not monetise deficits or use negative interest rates
BoE expands asset purchases by £100 billion
Haldane casts sole vote against expansion as ex-MPC member Sentance warns of “autopilot”
Namibia’s central bank cuts rates to record low
Central bank acts to preserve link to South African currency as it reintroduces lockdown measures