Coronavirus
World Bank says sub-Saharan Africa destined for first recession in 25 years
Growth could fall as low as -5.1% as largest economies struggle with Covid-19 repercussions
National Bank of Poland cuts rates to record low of 0.5%
Central bank includes state-guaranteed bonds in its asset purchase programme
Bank of England to lend directly to government
Central bank agrees temporary expansion of “Ways and Means” facility
Kosovan central bank rolling out response to coronavirus shock
Governor Fehmi Mehmeti says economy is vulnerable but the central bank is taking action
ECB takes unprecedented steps to preserve credit provision
Central bank accepts state-guaranteed loans as collateral, reduces haircuts, and raises limit on unsecured bank bonds in collateral pool
Thailand’s central bank throws support line to SMEs
Businesses will be eligible for new financing facility and payment holiday
Central banks may have to become ‘dealers of last resort’ – BIS economists
EMEs have not overcome “original sin” by deepening local currency bond markets, authors warn
Riksbank expands incentives for lending to small firms
Central bank continues with flurry of crisis-fighting measures
ECB buys Italian bonds well above capital key in March
Central bank bought €11.8 billion in Italian sovereign bonds last month, up from €2.2 billion in February
Bank of Thailand advocates washing banknotes
Central bank says “mild detergent” or soapy water will be enough
Covid-19 frazzles AI fraud systems
Seismic changes in customer behaviour see machine learning solutions throw out false positives
Is the ESM the eurozone’s best weapon against Covid-19?
Eurobonds face economic and political hurdles, say former officials
Covid-19 could accelerate CBDC development – BIS economists
Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed
China cuts rate on excess reserves for first time in 12 years
PBoC levels up stimulus, cutting rate on excess reserves while reducing RRR for the third time this year
UAE president replaces central bank governor
Veteran banker appointed shortly after central bank unveils large-scale emergency finance package
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
ECB extends strategy review until mid-2021
Central bank postpones public events by six months due to the Covid-19 crisis
Malaysian central bank says economy likely to shrink
Bank Negara Malaysia says pandemic already having “significant impact”
Dutch former governor attacks PM for blocking eurobond
Nout Wellink says Netherlands must prevent further debt crisis in Southern European countries
Central banks’ gold buying falls sharply in crisis
New Fed facility may further reduce incentives to buy gold, Hungarian official says
Accounting for losses during a pandemic
US banks get green light from senators to use loan loss accounting methods widely criticised following 2008 crisis
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
Chile cuts rates to record low 0.5%
Central bank expands banking bond purchases to $5.5 billion, GDP expected to shrink by 5% quarter on quarter
UK banks halt dividend payments after BoE piles on pressure
PRA asks largest lenders to suspend payments until the end of the year