Central Banking
Malawi’s new president dismisses governor
Former World Bank official will take over central bank as country faces uncertain outlook
US should extend benefit payments for long lockdown – ECB paper
If lockdown has to continue, lawmakers should further extend benefits to avoid major damage
Sri Lankan MPC cuts policy rate to record low
Central bank calls on commercial banks to pass on looser policy’s benefits “without delay”
Online machine learning can warn of impending crisis – Hélène Rey
Approach avoids some of the pitfalls of other methods, the economics professor says
Fintech can worsen inequality, BIS paper warns
Diffusion of technology helps to spread the benefits evenly, authors say
Fed’s repo market footprint goes back to zero
NY Fed has no outstanding repo interventions for first time in 10 months
Angola to issue its first polymer banknotes
Governor says new banknote series will improve security and durability, and cut costs
Ukrainian ex-governor says council chairman sabotaged him
Accusations raise stakes as president reportedly mulls appointing Danylyshyn as next governor
Common asset holdings important for stress testing – BoE paper
When banks and non-banks hold the same assets, losses can be magnified, authors warn
Headline inflation to stray into negative territory, Bank of Thailand reports
Sharp decline in oil prices and government measures push forecast for headline inflation to -1.7%
PBoC partners with tech giant to test digital yuan
Chinese ride-hailing firm partners with PBoC digital currency research arm to test digital yuan
Banks will be tested in next phase of pandemic – FSB chair
Reforms are needed to improve resolution planning and non-bank resilience, Randal Quarles says
Growth has replaced slack in Phillips curve relationship – Cleveland Fed paper
Findings could have “substantial disinflationary” implications during current recession, researchers say
People: CBSL gains board members; RBNZ forms new department
RBNZ fills two new payments roles; long-time Danish official retires from the central bank; ECB comms chief moves to private sector
Sudanese central bank receives ‘militia leader’s money’, report says
Militia leader demanded seat on economic council in return for cash payment, report alleges
Bank Negara Malaysia cuts policy rate to fresh low
Labour market weakness and cautious households may hamper recovery, central bank warns
Bank of Israel launches corporate bond purchases
Central bank also extends cheap funding for bank lending
Bank of Japan to begin testing CBDC
BoJ publishes report on feasibility of digital yen, a surprise move after governor’s ‘lack of demand’ comment
‘Careful’ regulation needed to prevent fintech financial exclusion – IMF
New technology must not be taken for granted during Covid-19 recovery, researchers say
Covid-19 is chance to lower carbon dioxide trajectory – SF Fed research
CO2 emissions likely to fall dramatically in 2020; targeted fiscal spending and telecommuting trends could cut trajectory, researchers say
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level, write Theodoros Evgeniou, David Hardoon and Anton Ovchinnikov
Have equities passed the Covid-19 test?
Reserve managers face a rebalancing and asset allocation challenge, with Fed interventions distorting yield curves and boosting equity valuations. What’s next for asset diversification?
IMF must defend reform in Ukraine – Gontareva
Lawmakers accept Smolii’s resignation as former governor says president has “fooled” IMF
UK’s ‘Big Four’ told to separate audit practices
Major shake-up of accounting firms comes in wake of the Wirecard scandal