Central Banking
People: World Bank appoints new vice-president for integrity
BIS appoints new deputy head of banking, and Bank of Finland recruits sustainability specialist
Turkish central bank cuts rates again
CBRT makes ninth consecutive cut since July 2019 but analyst warns strategy is “unsustainable”
Covid-19 biggest threat to Fed mandate ‘in our lifetimes’ – Clarida
Fed may not provide further forward guidance until September, Richard Clarida says
Sarb carries out fourth consecutive rate cut
Sarb says banks can apply for looser prudential requirements on “case-by-case” basis as it cuts rates to record lows
Indian MPC cuts rates to record low in unscheduled meeting
RBI says Covid-19 is having a more severe economic impact than anticipated
Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis
BoE paper lays foundation for ‘system-wide stress test’
Economists develop framework linking banks, investment funds and hedge funds
FOMC considers more aggressive forward guidance
Officials discussed state-contingent forward guidance and yield curve control, April minutes show
Swedish financial stability risks rising, Riksbank says
Without new policy measures, banks’ losses may hamper credit supply, Riksbank warns
Bailey confirms BoE is considering negative rates
“I have changed my position a bit,” governor tells lawmakers, as UK inflation falls drastically
Banque de France CBDC project uses blockchain to settle transactions
Central bank and French lender use blockchain platform to pay for €40m securities tokens
ECB to integrate climate risks into supervision
Climate change is pushing banks to adapt risk management, disclosure, governance and business strategies
UK issues negative-yielding bond as inflation wilts
Inflation dropped sharply in April amid the coronavirus lockdown
Bank of Italy paper analyses Fed’s ‘gradualist’ policy
Monetary policy had stronger effects when markets thought Fed was “acting gradually” – researchers
Qatar bolsters Turkey’s shrinking reserves
Agreement sees Qatar add $10 billion to Turkey’s reserves via swap agreement
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
Economists debate monetary financing of China’s government debt
PBoC adviser dismisses idea of monetising government bonds despite calls from Ministry of Finance think-tank
MAS preps financial institutions for return to normal
Firms will be able to conduct face-to-face meetings as long as safety protocols are followed
Final Fed lending facilities to go live this month
Complexity of main street facility has been “in a class by itself”, Jerome Powell says, as lawmakers criticise delays
US firms may need big investment cuts - Chicago Fed paper
Cutting investment may be public corporations’ most attractive response to pandemic - researchers
Pressure builds on central banks to ‘monetise’ sovereign debt
Sarb is the latest institution facing calls to directly purchase Covid-19 related government debt
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds
Norwegian governor says negative rates are unlikely
Øystein Olsen says it is “uncertain how negative rates will influence the economy”
Covid 19 likely to widen inequality – IMF official
Research finds poor likely to bear brunt of impact, says IMF Asia deputy director