Central Banking
Emerging markets face ‘uphill battle’ against pandemic – IMF staff
EME countries face limited fiscal space and possible solvency crisis, warn researchers
Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
Fed reveals instant payment plans
FedNow will feature interoperability on ISO 20022 message standard and new liquidity tool
Australian central bank cuts growth and jobs forecasts
RBA forecasts 10% unemployment by year’s end as official says recovery will be ‘uneven’
Basel Committee drafts new resilience guidelines
BCBS consults banks on safeguards against operational risks such as pandemics and cyber attacks
Brazil plans new note as cash demand hits record high
Central bank will introduce 200 real banknote as Brazilians start to hoard cash
Turkish central bank issues brief statement as lira hits record low
Lira hits lowest-ever level against dollar and euro as central bank’s response remains unclear
BoE runs ‘reverse stress test’ to prepare for renewed Covid crisis
Banks may have to take drastic “defensive actions” if UK suffers another major shock, BoE says
World Bank grants Vietnam $6.2 million Covid-19 aid
Central bank deputy says support is ‘meaningful and necessary’ as virus returns to country
Romania cuts rates as rising Covid-19 cases hurt economy
Central bank says resurgent pandemic risks recovery and calls for more clarity on fiscal policy
Brazil’s central bank cuts rates to record low
MPC says there is limited space for more monetary policy stimulus as crisis continues
Fed paper looks at effects of negative rates on banks
Banks with large holdings of liquid assets could be hurt by negative rates, researcher says
BoE says negative rates ‘in toolbox’ and forecasts slow recovery
First “proper” forecast since Covid-19 outbreak gives little hope of a V-shaped recovery
IMF agrees aid for small Southern African countries
IMF says Eswatini and Lesotho face major challenges from pandemic and structural problems
Detail matters when monitoring external imbalances – IMF research
Gross external debt is one of the clearest signs of vulnerability, study finds
IMF supports Riksbank’s criticism of proposed central bank law
Swedish lawmakers propose separating monetary and financial stability measures
New York Fed study exposes ‘disturbing’ reality for black-owned firms
Data shows black-owned firms were disadvantaged from the start of the pandemic
Covid-19 challenges IMF debt-restructuring framework
Process needs tweaking to address pandemic-related issues, former IMF general counsel says
Costa Rica to issue first polymer banknotes
Central bank will retain size and colour of existing notes to smooth transition to new substrate
MAS recognises first ‘significantly rooted’ foreign bank
Standard Chartered’s new status will give it some of the same privileges as locally incorporated banking groups
Fears over political pressure as senior Ukrainian officials resign
Deputy governor and communications head leave NBU as controversy continues
IMF economists call for action on global imbalances
“Excessive” imbalances exist in 40% of cases, though they have narrowed slightly
Argentina strikes deal to restructure $65bn debt
Next step could be a return to programme negotiations with the IMF
Biden promises new Fed mandate on racial inequality
Democratic candidate wants Fed to take responsibility for economic concerns of Black Lives Matter movement