Sovereign debt
Belize central bank law to allow bigger loans to state
Amendments come amid debt crisis as IMF warns country to defend currency peg
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
Bank of Korea to expand government bond purchases
South Korean central bank vows to buy more government bonds as finance ministry proposes new pandemic relief package
Will Treasury yields keep on rising?
Falling price of US bonds may force reserve managers to change duration to preserve capital
Bolivian central bank repays ‘unconstitutional’ IMF loan
Central bank says loan was illegal and threatens legal action against officials responsible
Kenya strikes deal on $2.4 billion IMF package
“Multi-year effort” required to stabilise public finances and boost growth
Bank of Zambia caught between surging inflation and debt crisis
Central bank hikes policy rate as kwacha falls and fiscal spending overshoots targets
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
IMF to update debt sustainability framework
Reforms aim to improve framework’s predictive capacity and transparency, IMF says
RBI offers bond accounts to retail investors
Central bank to sell debt directly to public, as recent auctions show signs of strain
Draghi accepts task of leading next Italian government
Former ECB president must first secure enough parliamentary support to become prime minister
Reserve Bank of Australia launches A$100bn in new QE
Australian central bank surprises analysts with easing measure, despite more hopeful macroeconomic forecast
Monetary unions might benefit from taxing external debt – DNB paper
Policy would reduce adverse effects of shocks to risk premia on sovereign debt, researchers find
Cross-border spillovers play key role in ECB’s bond purchases – DNB paper
Cross-border effects play a “dominant role” in PSPP’s effectiveness, say researchers
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
Central banks must mobilise their FX reserves
The pandemic and climate crises call for bold action, write Gary Smith and John Nugée
Riksbank to increase risk buffer
Swedish central bank concerned about future effects of asset purchases on balance sheet
Bank of Israel increases FX interventions to tame shekel
Central bank’s foreign reserves reach new record level
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
Sveriges Riksbank announces big QE boost
Swedish central bank increases size, scope and duration of asset purchases
Olli Rehn on AIT, market neutrality and EU fiscal policies
The Bank of Finland governor talks about the ECB’s strategy review, market failure on climate change, lessons from the sovereign debt crisis, and the Draghi legacy effect on Covid-19 responses
ECB highlights new channel reinforcing sovereign-bank nexus
State guarantees indirectly increase banks’ exposure to sovereign risks through corporates