Interest rates
RBNZ hints at further stimulus by the end of the year
Central bank says banking sector is on track to be prepared for negative rates
Riksbank signals rates likely to stay at zero for several years
Central bank does not forecast negative rates, but doesn’t rule them out
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
Ethiopia launches new high-denomination banknote
New 200 birr note aims to curb inflation and corruption, central bank says, as Covid-19 slows growth
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
Judging scarcity of reserves depends on Treasuries outstanding – paper
Increase in short-term Treasuries causes money markets to behave, as there is a scarcity of reserves, researchers find
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
DNB president talks about the temporary nature of unconventional policies, the importance of inflation target ‘bands’, the role of central banks as ‘circuit-breakers’ and ECB decision-making under Christine Lagarde
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Don’t wait too long to normalise balance sheets – Bailey
Central banks need to unwind balance sheets when tightening policy, BoE governor warns
RBNZ investigating use of negative rates, official says
New Zealand central bank would only use measure if necessary, assistant governor says
Bank of Zambia cuts rates as Covid concerns intensify
Zambian central bank calls for debt sustainability policies as growth and inflation forecasts worsen
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed president discusses his support for average inflation targeting, his concerns about US Treasuries market function, non-bank regulatory weakness and negative rates, as well as the unexpected success in using Homebase data to predict highly…
Bank of Mexico cites ‘major challenges’ as it cuts rate
Policy-makers focused on maintaining “room for manoeuvre” as inflation risks evolve
RBNZ boosts asset purchases and prepares new policies
Negative rates and funding for lending programme under “active preparation”
BoE runs ‘reverse stress test’ to prepare for renewed Covid crisis
Banks may have to take drastic “defensive actions” if UK suffers another major shock, BoE says
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
Colombia cuts rates to record low of 2.25%
Central bank has revised down GDP growth to a range between -6% and -10% for 2020
Fed extends swap lines and warns of slowing US economy
More fiscal and monetary stimulus will be needed as cases surge in US, chair Powell said
Bank of Russia cuts rates to record low
Governor argues monetary stimulus will offset fiscal consolidation efforts in 2021–22
Sarb cuts rates as unemployment breaches 30%
Central bank says emerging markets will struggle as lockdown measures ease