Central Banking
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
Can growth in developing Asia be made more sustainable?
The structure of the global economy will be reshaped by Covid-19, and what happens in Asia will be crucial, writes Philip Turner
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing the option as a way to boost liquidity in the fight against Covid-19
Individual German banks at risk from interbank shocks, paper finds
Bundesbank paper presents simulation method for analysing interbank markets
Fed’s Jackson Hole conference hit by temporary venue closure
Kansas City Fed is considering implications and will release details when available
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
Cash usage decreases as confidence in banks rises – research
Research included in MAS review flags importance of psychological factors in cash usage
BIS and G20 launch cloud-based ‘tech sprint’
New initiative will help regulators leverage technology to improve supervision of financial sector
BoE’s Proudman recommends data-gathering rethink
“Pull” model would be “revolutionary” but might come at too great a cost, official says
ECB publishes framework for assessing prudential spillovers
Detailed paper aims to help regulators assess cross-border effects of macro-prudential policies