Monetary Policy
Sarb to buy government bonds
South African central bank also broadens refinancing operations to boost liquidity
ECB sharply ramps up asset purchases
Central bank increases securities holdings by €17.4 billion, the highest for two years
Central Bank of Colombia starts buying sovereign, private debt
Central bank aims to ensure the constant provisioning of liquid resources to the economy
Philippines, Taiwan and Indonesia cut rates; Singapore on watch
Asian central banks continue easing to boost virus-hit economies; Singapore slips into deflation for the first time in a decade
Canadian governor says central bank can buy corporate bonds outright
Poloz’s statement could mean Bank of Canada is considering QE, observers say
Bank of Israel to buy $13bn in government bonds
Central bank also supplying $15bn to banking sector to meet “very high” demand
Riksbank steps up pace of crisis support programme
Swedish financial regulator says publicly-quoted firms must stop equity payouts
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
Bank of Mexico cuts rates 50bp in emergency meeting
Analysts expect further cuts as the economy is expected to enter a sharp recession
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
Riksbank to buy covered bonds; Iceland enters secondary market
Central banks unveil new forms of unconventional purchases
RBNZ launches $30bn government bond-buying programme
MPC asked to vote on package via email to ensure social distancing
US banks increase discount window borrowing
Federal Reserve “encouraged by the notable increase” in use of the backstop facility
Norges Bank slashes rates to record low of 0.25%
Central bank says workers are being laid off, as Norway faces double shock from virus and oil
BoE ramps up corporate and government bond-buying
Central bank launches new £200 billion package of QE plus rate cut and more liquidity
RBA introduces yield curve control
Lowe says measure would not have been considered under “normal times”
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
ECB launches €750bn emergency purchase programme
Governing council says new tool will remain active until Covid-19 crisis is over, stands ready to increase it
Riksbank resumes QE by buying government debt
Swedish central bank buys $245 million in sovereign debt and will buy covered bonds on March 25
Cleveland Fed president criticises scale of rate cut
FOMC should have saved some rate cuts for US economic recovery, Loretta Mester says
Fed re-launches Primary Dealer Credit Facility in latest crisis move
New PDCF is more easily accessible than similar measure used in 2008 crisis
Book notes: Renewing our monetary vows, by Richard Barwell and Jagjit Chadha
Open letters to the governor of the Bank of England, as new chief Andrew Bailey takes over
Riksbank backs fiscal stimulus with massive QE programme
Swedish central bank increases loans to banks, cuts overnight lending rate to 0.2%
Bank of Canada steps up Covid-19 response
Bank widens eligible repo collateral, tweaks monetary framework and unveils mortgage market measure