Sovereign debt
Yaron supports Israel’s increased fiscal stimulus
Package could push budget deficit to 13% of GDP in 2020
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
ECB testing banks’ ability to deal with a second wave of Covid-19 – Enria
ECB head of supervision stresses banks are reluctant to use buffers because of market reaction
Sri Lankan governor says system is sound despite lender failing
Central bank governor also says there is no chance of sovereign default as budget is suspended
Central banking enters a new era
‘Monetary financing’ and ‘buyer of last resort’ traps lie in wait
ECB expected to sharply increase PEPP purchases
Central bank could start reinvesting PEPP securities and increase supranationals’ share
Bond purchases will not imperil independence – Brazilian governor
Roberto Campos Neto stresses temporary asset purchases face strict limits
IMF staff: Argentina’s debt restructuring plan could restore sustainability
Staff give positive assessment but say there are major risks
The complex art of reserve management
Lockdown represents another inflection point for central banks managing $12 trillion in FX reserves
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
The ECB, the lockdown and the monetary financing lock
Eurozone’s central bank may need to break its prohibition on monetary financing to fight pandemic
Covid-19 should serve as warning for climate change – BIS official
Policy-makers need “holistic approach” to global risks, says Luiz Awazu Pereira da Silva
Pandemic debt will test policy-makers – Richmond Fed research
Authorities may opt for “financial repression” policies with central banks keeping rates low – paper
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
Lebanese PM asks for IMF aid as dispute with central bank grows
Governor at centre of massive economic crisis appears to condemn PM’s words as “slander”
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but ECB has not expanded asset purchases
IMF approves new programmes in support of weaker economies
Fund has given green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
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
Riksbank will start buying municipal bonds
Central bank includes new assets in 300 billion kronor purchase programme
Book notes: Crisis spaces, by Costis Hadjimichalis
“Don’t buy this book, unless you are a dedicated Marxist”
G20 agrees debt relief for poorest nations
IMF and World Bank welcome “powerful, fast-acting initiative”