Independence
Bank Indonesia to buy $28 billion of Government debt
Central bank increases direct financing of government, raising fears over currency and independence
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
Ukrainian governor resigns in protest
Smolii says he has been target of “sustained political pressure” aimed at stopping him doing his duty
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
Chilean government wants to give central bank QE powers
Draft law would allow Central Bank of Chile to buy government debt in “exceptional circumstances”
Norges Bank supervisory board strongly criticises contract with new SWF head
Board tells lawmakers contract agreed by central bank governor lacks sufficient safeguards
Mauritian central bank to use $2 billion of reserves to fund firms
Central bank will also issue debt instruments to give government $1.5 billion in new funding
Central banking enters a new era
‘Monetary financing’ and ‘buyer of last resort’ traps lie in wait
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
Brazil’s governor details emergency asset purchase plans and backs extending SDR funding
Carstens, Jordan, Weber: respect the boundaries of fiscal and monetary policy
Axel Weber says huge US deficit could pose problems for global financial stability
Norges Bank signs working agreement with Nicolai Tangen
Tangen’s appointment as SWF chief had been questioned due to his relationship with his predecessor
The complex art of reserve management
Lockdown represents another inflection point for central banks managing $12 trillion in FX reserves
Economists debate monetary financing of China’s government debt
PBoC adviser dismisses idea of monetising government bonds despite calls from Ministry of Finance think-tank
The ECB, the lockdown and the monetary financing lock
Eurozone’s central bank may need to break its prohibition on monetary financing to fight pandemic
Pandemic debt will test policy-makers – Richmond Fed research
Authorities may opt for “financial repression” policies with central banks keeping rates low – paper
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
Norges Bank proceeds to draw up contract of new SWF chief
Nicolai Tangen’s appointment came under scrutiny after it was revealed he asked incumbent for help during hiring process
Could engineering higher inflation help manage fiscal deficits?
Fiscal and monetary co-ordination could be a workable option for recovery, Chicago Fed paper finds
Debts, deficits, central banks and inflation
What insights can history provide for central banks hit by large rises in government debt?
Norges Bank supervisory council requests information on SWF’s new head
Executive asked to answer questions on hiring process amid ongoing expenses scandal
Norway’s SWF leadership caught up in expenses scandal
Incoming chief executive asked current CEO for favour weeks after inviting him to US seminar
Proposed changes to law could damage independence – Swedish central bank
Lawmakers’ proposal would hinder crisis management capability, Sveriges Riksbank says
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed has gone too far, market function rules needed and chance opens for shared policy load
Bank of England to lend directly to government
Central bank agrees temporary expansion of “Ways and Means” facility