Negative rates
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of portfolio managers
Should the BoE go negative?
Much research into negative rates suggests central banks should have little to fear
Fed policy is too tight given FOMC projections – former Fed economist
“An outlook that bad for that long is a clear sign that policy is too tight,” Joseph Gagnon says
US needs aggressive fiscal policy and negative rates – St Louis Fed economist
Policy response must be powerful enough to overshoot previous growth trend for a period
Bailey confirms BoE is considering negative rates
“I have changed my position a bit,” governor tells lawmakers, as UK inflation falls drastically
Fed not considering negative rates – Powell
More fiscal support may be needed, as Fed’s lending will only be effective “for a while”, says Fed chair
ECB’s negative rates boosted lending – Bank of Italy paper
Banks increased credit to ex ante riskier firms, but did not see rise in failed loan rates, researchers find
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 and banks: a changed relationship
Development of large, complex international capital markets has reshaped relationship between central and commercial banks
ECB likely to shy away from rate cut, analysts say
Central bank expected to unveil targeted measures to support banks and SMEs
RBNZ prepares unconventional policy tools
Central bank is not planning to use them yet, governor stresses
What can the ECB do now?
Central bank is facing coronavirus shock with limited room for further policy measures
Riksbank’s Breman says coronavirus does not demand looser policy yet
Swedish central bank abandoned negative rates in December; inflation declined sharply in January
Knot warns of drawbacks of negative rates
Consumers are increasing their savings rather than their consumption
Did the Riksbank abandon negative rates too soon?
Policy-makers face difficult choices if inflation does not recover soon
Do low rates spur investment?
Former IMF head writes there is little hard evidence that low interest rates spur investment
Economist joins Bank of Japan’s rate-setters
BoJ board member in favour of continued QE but has expressed doubts on negative rates
Schnabel takes on Germany’s ‘false narratives’ on ECB policy
Criticism based on “half-truths” imperils trust in single monetary policy and “undermines European cohesion”
Dutch households sharply increased savings in 2019
Higher net incomes and the need to offset lower interest rates behind surge, says DNB
Lifetime achievement award: Otmar Issing
Architect of euro’s framework still playing important role in shaping debate on monetary policy
ECB’s Mersch warns of negative side-effects of ultra-loose policies
Policies may be contributing to risk-taking, high asset-price inflation and inequality, board member says
Trump’s criticism undermining confidence in Fed – Yellen
Political pressures could hurt central bank independence, says former Fed chair