Coronavirus
Final Fed lending facilities to go live this month
Complexity of main street facility has been “in a class by itself”, Jerome Powell says, as lawmakers criticise delays
US firms may need big investment cuts - Chicago Fed paper
Cutting investment may be public corporations’ most attractive response to pandemic - researchers
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds
Norwegian governor says negative rates are unlikely
Øystein Olsen says it is “uncertain how negative rates will influence the economy”
Covid 19 likely to widen inequality – IMF official
Research finds poor likely to bear brunt of impact, says IMF Asia deputy director
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Lower-income households feel worst of Covid-19 economic shock – Fed survey
Nearly 40% of low-earning households faced at least one job loss in March, survey finds
Bank of Mauritius pushed to tap reserves for business lending
Mauritius’ prime minister thinks the central bank should fund businesses direct from its reserves – but at what cost?
Fed flags ‘elevated’ risk of financial stability pressures
System coped with immediate Covid-19 stresses, but trouble may be building, central bank says
PBoC’s post-pandemic policy is still up in the air
The Chinese central bank has resisted radical easing, but with the NPC meeting this week, more loosening could be on the way, despite debt-level concerns, writes Hui Feng
Covid-19 should serve as warning for climate change – BIS official
Policy-makers need “holistic approach” to global risks, says Luiz Awazu Pereira da Silva
Mexican central bank cuts rates but stays cautious on inflation
Falling peso and supply disruptions make inflation outlook “uncertain” despite recession, board says
Economists race to merge epidemiology and macro
Promising results are emerging, but workable forecasts may be some way off
Bank of Canada warns of major rise in mortgage arrears
Mortgage arrears could rise to levels nearly double seen in global financial crisis, central bank says
Chile requests flexible credit line from IMF
IMF’s Georgieva says she will recommend Chile receives access to $24 billion credit line
Bank of Israel reserves rise by 5.6% in April
Government transfers from abroad boost central bank’s reserves portfolio by almost $6.5 billion
Fed not considering negative rates – Powell
More fiscal support may be needed, as Fed’s lending will only be effective “for a while”, says Fed chair
UK economy faces 30% contraction in Q2
NIESR estimate comes as official GDP figures show sharp decline in opening stages of lockdown
RBNZ nearly doubles asset purchase programme
Policy-makers aim to front-load stimulus as economy faces “significant and unprecedented decline”
Morocco’s central bank prohibits bank dividend payments
Central bank tells financial institutions to ensure they are able to keep funding businesses in need
Covid-19 may accelerate US firms’ turn away from China – New York Fed
Import data shows firms have used non-Chinese suppliers to replace some lost trade
ECB backs use of EU central banks for job subsidies
“Sure” scheme to pay job subsidy funds would be within EU law, ECB says
Fed will begin ETF purchases today
Central bank outlines fund selection strategy but keeps investors guessing on specifics
Scale of Covid-19 impact shows up starkly in US stats
All of the US’s key macroeconomic indicators point to a dramatic slump