Unemployment
Bank of Israel launches targeted lending operations
Central bank offers cheap loans to banks as part of Covid-19 response package; research department estimates point to major growth impact from virus
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
Covid-19 uncertainty to have long-lasting impact – SF Fed paper
Inflation may turn negative over the near and medium term, researchers estimate
US unemployment could hit 32%, St Louis Fed says
Unemployment insurance claims see greatest ever post-war rise
BoE on hold as early indicators point to rapid UK downturn
Policy on hold after extraordinary actions in recent weeks; network of agents reports credit conditions are tightening
16% of US jobs in high-risk sectors – Brookings research
Researchers examine possible impact of coronavirus on US sectors and metropolitan areas
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
Bank of Mauritius launches Covid-19 response package
Bank unveils five measures designed to bring relief for businesses and keep credit flowing
PBoC injects $79 billion into virus-hit economy
Targeted RRR cut encourages smaller banks to lend to SMEs; more easing steps expected to stabilise economy
Riksbank research looks at older workers in Sweden
More old people may remain in labour force due to changes in laws, researcher says
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”
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Lesotho cuts interest rates to 6.25%
Central bank reduces rates and lowers reserves target on back of weaker domestic outlook
Central banks need to avoid dependence on markets, officials say
ECB and Fed officials reflect on relation between bond market expectations and their policy decisions, in farewell conference for Benoît Cœuré
FOMC calls halt to cutting cycle
Unanimous decision keeps rates on hold; Powell signals no move likely for some time
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
In-depth: have central banks worsened the secular slowdown?
IMF economist Bas Bakker shares his argument that central banks have misdiagnosed falling growth and long-run rates. He and several other economists are now calling for a rethink
Debelle analyses impact of mortgage arrears
Mortgage arrears are at historical low, Australian deputy says; trends in Western Australia could be informative in a downturn
Egypt slashes rates by further 100bp
Sharp drop in inflation prompts easing by monetary policy committee
Swedish paper investigates weak wage growth
Labour shortages may be lower than previously thought, researchers argue
Brazil cuts rates to new record low as inflation drops
Rater-setters reduce key Selic rate by 50 basis points to 5%
Fed reduces rates but signals pause
Current stance of policy “likely to remain appropriate” to sustain moderate expansion, Powell says
Minneapolis Fed president calls for more cuts
Kashkari says cuts would support the economy, but he is unsure how low rates needs to go
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find