Interest rates
RBNZ to start buying local government debt
Central bank expands its large-scale asset purchases in the wake of the Covid-19 shock
Bank of Mexico lacks scope to counter Covid-19 – minutes
Officials highlight limited scope to lower rates below 6.5% without stoking inflation
Should the Fed be next to implement yield curve control?
The Reserve Bank of Australia is now the second G20 central bank trying to control longer-term interest rates. Could the Fed be next?
The long march to global growth
Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, says that China’s growth is fuelling innovation and modernisation, but financial regulation and governance needs to be tightened up for China to take its place at the top…
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
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
China makes surprise rate cut to resist crisis
PBoC unexpectedly cuts the seven-day repo rate while injecting liquidity, suggesting a willingness to deploy stronger countercyclical measures
Bank of Canada launches large-scale asset purchases
Measures target market function more than monetary easing, says governor Stephen Poloz
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
RBI follows ECB with crisis-fighting TLTROs
Central bank slashes rates and launches targeted liquidity measures
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
Bank of Mexico cuts rates 50bp in emergency meeting
Analysts expect further cuts as the economy is expected to enter a sharp recession
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
RBNZ launches $30bn government bond-buying programme
MPC asked to vote on package via email to ensure social distancing
Norges Bank slashes rates to record low of 0.25%
Central bank says workers are being laid off, as Norway faces double shock from virus and oil
BoE ramps up corporate and government bond-buying
Central bank launches new £200 billion package of QE plus rate cut and more liquidity
RBA introduces yield curve control
Lowe says measure would not have been considered under “normal times”
Cleveland Fed president criticises scale of rate cut
FOMC should have saved some rate cuts for US economic recovery, Loretta Mester says
Riksbank backs fiscal stimulus with massive QE programme
Swedish central bank increases loans to banks, cuts overnight lending rate to 0.2%
RBNZ reduces rates by 75bp in emergency meeting
Central bank says future purchases of government bonds preferable to lower rates
Central banks should support demand and bolster confidence – IMF
IMF offers advice to central banks on what measures are appropriate to combat Covid-19
PBoC injects $79 billion into virus-hit economy
Targeted RRR cut encourages smaller banks to lend to SMEs; more easing steps expected to stabilise economy
Central banks step up liquidity support
RBA, Bank of Canada, Norges Bank and Riksbank all increase their liquidity interventions
Norges Bank cuts rates 50bp in emergency meeting
Central bank offers extraordinary three-month loans to banks and calls on government to reduce countercyclical buffer