Central Banks
IMF extends Article IV consultations as it steps up aid efforts
Nine more countries receive IMF aid as demand continues at “unprecedented” levels
Zimbabwean central bank cuts rates and attempts currency controls
RBZ loosens policy as IMF predicts massive contraction in GDP for already-weakened country
Payment giants ask EBA for PSD2 extension
Covid-19 disruption puts strong customer authentication deadline in doubt
Elderson says authorities should use Covid-19 to boost green transition
Aid to aviation sector should be conditioned on moving away from carbon dioxide emissions
BoE eases funding terms as government launches ‘bounce back’ loans
Loans will be excluded from leverage ratio calculations
Lower refinancing can dampen economic recovery – Fed research
US mortgage refinancing activity remained muted after falling during 2008 crisis, researchers find
The IFF China Report 2020: Regional and multilateral co-operation
The Belt and Road Initiative has expanded to corners of the globe never thought possible; investment in Latin America, Africa and the Caribbean has strengthened free trade and fostered positive development. But there is still work to be done to ensure a…
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
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”
New Bank of Canada governor selected
Tiff Macklem, the senior deputy governor under Mark Carney, will replace Poloz on June 2
Fed expands main street lending plans
Central bank faces criticism for appearing to respond to oil and gas lobbying
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Covid-19 could cut eurozone GDP by 5%, 8% or 12% in 2020 – ECB
ECB publishes alternative scenarios for the uncertain economic outlook created by the pandemic
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Dutch pension funds record heavy losses – DNB
Major pension funds warn they may have to cut payouts unless finances improve soon
People: Sandra Boss quits BoE roles to join BlackRock
Prudential committee member to join asset manager; Coeuré to head committee on Covid-19; State Bank of Vietnam appoints new director-general
Basel Committee ‘stock take’ highlights progress on climate risks
Members are conducting research and issuing guidance, but most are not yet making changes to capital frameworks
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but the ECB has not expanded asset purchases
Nigeria gets $3.4 billion IMF support
IMF calls for more donor support but warns over possible misuse of aid
BoE paper argues for heterogeneous agent modelling
Authors use heterogeneous agent model to study fiscal policy and redistribution
RBNZ lifts mortgage lending restrictions for one year
New Zealand's central bank says latest crisis move will not weaken financial resilience
Tighter supervision improves bank performance – NY Fed paper
Researchers examine performance of heavily and lightly regulated banks from 1991 to 2014
Podcast: An interdisciplinary approach to Covid-19 surveying
FedSpeak talks with the Minneapolis Fed’s Abigail Wozniak on her new real-time survey combining social science and epidemiology