Monetary policy
Bank of Mauritius extends Covid-19 support measures
Central bank extends loan support programme and increases foreign exchange funding
Bank Indonesia to buy $28 billion of Government debt
Central bank increases direct financing of government, raising fears over currency and independence
Sri Lankan MPC cuts policy rate to record low
Central bank calls on commercial banks to pass on looser policy’s benefits “without delay”
Online machine learning can warn of impending crisis – Hélène Rey
Approach avoids some of the pitfalls of other methods, the economics professor says
Growth has replaced slack in Phillips curve relationship – Cleveland Fed paper
Findings could have “substantial disinflationary” implications during current recession, researchers say
People: CBSL gains board members; RBNZ forms new department
RBNZ fills two new payments roles; long-time Danish official retires from the central bank; and more
Bank Negara Malaysia cuts policy rate to fresh low
Labour market weakness and cautious households may hamper recovery, central bank warns
Bank of Israel launches corporate bond purchases
Central bank also extends cheap funding for bank lending
US forward guidance is contractionary for Canada – BIS paper
Model highlights “beggar-thy-neighbour” effect of Fed’s forward guidance
EMEs should lower rates when faced with capital outflows – Fed research
Not cutting rates could worsen GDP and accelerate outflows, researchers find
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
Riksbank expands QE and adds corporate debt to purchases
Swedish central bank cuts lending rates to banks, but keeps repo rate unchanged at 0%
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency
BIS warns of further shockwaves in ‘generation-defining’ crisis
Solvency crisis is looming on the horizon and health crisis is far from over, BIS officials say
Better communication boosted monetary policy effectiveness in Indonesia
Concise press releases and issuing maturities beyond one month would further improve it, says study
IMF warns unprecedented central bank support may fuel instability
Investors may be too optimistic about recovery, IMF report says
Libra could cause central banks to lose control over monetary policy
Stablecoins linked to global reserve currencies could pose problems for monetary policy – research
Mexican central bank cuts rates despite rise in inflation
Board makes unanimous decision and stresses “uncertain” economic outlook
Philippine central bank cuts rates to record low
BSP cuts rates by 50bp as IMF projects 3.6% GDP contraction in 2020
Weidmann to use ECB documents before German lawmakers - report
Bundesbank president’s appearance may satisfy conditions of German court ruling
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding
UK debt office narrowly avoided disorderly market in March
DMO chief says BoE intervention triggered rapid recovery; debt issuance now running at record levels
NGFS offers concrete next steps to assess climate vulnerabilities
New climate risk scenarios to be adopted by BoE and Buba
Bank of Canada stimulus to continue for ‘very long period’ – Macklem
Economic recovery will be “prolonged and bumpy”, governor Tiff Macklem warns