Monetary policy
Fed set to adopt ‘elements’ of price-level targeting
Covid-19 could act as a catalyst for a Janet Yellen-supported Fed move to adopt elements of price-level targeting. But questions remain about the timing of such a move
Norway’s central bank cuts policy rate to zero
Norges Bank’s move brings rate to record low, as central bank warns of “substantial” shock
BoE predicts sharp fall and fast recovery for UK
Forecasters predict limited long-term scarring from virus shock; banks are in strong position to lend, stress test finds
Sri Lankan central bank looks back at ‘dismal’ year
Economy was just recovering from terrorist attacks when Covid-19 hit, CBSL says
ECB research finds Phillips curve still matters
Underlying relations are complicated, but slack and expectations still drive prices, economists say
UK statisticians turn to online prices to cope with Covid-19 lockdown
Around 80% of prices are usually collected in person, forcing rethink of data gathering approach
RBA holds rate and reveals forecast scenarios
Cash rate target remains at 0.25%; RBA maintains three-year bond yield target at 0.25%
Bank Negara Malaysia cuts rate as global outlook darkens
Fresh easing measures come as central bank foresees “particularly challenging” first half of year
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Dutch pension funds record heavy losses – DNB
Major pension funds warn they may have to cut payouts unless finances improve soon
Riksbank open to future rate cut
Swedish central bank keeps stimulus package unchanged in monetary policy meeting
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
Coronavirus latest: Central banks respond to the Covid-19 crisis
Live coverage as central banks respond to the virus outbreak (live feed is now closed)
Bank of Russia cuts policy rate as oil and pandemic crises deepen
Elvira Nabiullina says central bank may cut again as it forecasts major recession in 2020
Riksbank unveils details of local bond purchases
Swedish central bank to buy up to Skr5 billion from Kommuninvest i Sverige
Bank of Japan steps up stimulus with unlimited JGB purchases
BoJ drops limit on government debt and quadruples corporate bond cap, but it is unclear if purchases will actually increase
Ukraine central bank cuts policy rate sharply
NBU says failure to agree IMF deal is main risk, as bank administrators sue oligarch
Pandemics can depress natural rates for multiple decades – SF Fed
Real wages tend to rise gradually for 30 years after pandemics, data stretching back to 1340s shows
Turkey continues easing cycle with 100bp cut
Policy-makers see oil shock creating room for stronger easing
Bank of Mexico cuts rates in emergency meeting
Central bank unveils set of measures to boost liquidity amounting to $30.5 billion, 3.3% of GDP
Book notes: Crisis spaces, by Costis Hadjimichalis
“Don’t buy this book, unless you are a dedicated Marxist”
Proposed changes to law could damage independence – Swedish central bank
Lawmakers’ proposal would hinder crisis management capability, Sveriges Riksbank says