Coronavirus
Draghi accepts task of leading next Italian government
Former ECB president must first secure enough parliamentary support to become prime minister
EU’s 2021 stress test includes ‘very severe’ adverse scenario
Adverse scenario foresees unemployment rising sharply and massive asset shock
IMF encourages Bahamas central bank to launch asset registry
Recent initiatives to manage credit have been hampered by bottlenecks, IMF report says
Colombian central bank holds rates under new governor
Interest rates remain at 1.75%, a record low; board split in a 5–2 vote
Bank of Finland to focus on sustainable growth
Central bank also aims to create “world’s best” financial literacy programme
Bank of Mozambique hikes policy rate by 300 basis points
MPC cites Covid-19, conflict and natural disasters as it orders increase
Riksbank extends swap agreement with Fed
$60 billion line set up in response to Covid-19 extended until end of September 2021
Penalty fears drove US funds’ March run – NY Fed paper
Research finds “sophisticated” investors respond to asset signals but retail investors do not
Norwegian SWF returns 10.9% in 2020
Holdings in US tech companies major factor in rebound despite pandemic, Tangen says
Eurozone banks must not delay action on credit risk – Enria
Supervisor calls on banks to use capital buffers in order to maintain adequate credit levels
Fed on hold in first policy meeting under Biden administration
Unanimous vote comes amid signs of possible further fiscal stimulus; new voting members join FOMC
IMF warns of possible market correction
Withdrawal of central bank support might trigger shock, say Tobias Adrian and Fabio Natalucci
IMF staff lay ground for $1.8 billion loan to Costa Rica
Staff set terms for three-year loan as high debt and Covid-19 take toll; earlier agreement foundered amid public protests
IMF warns of ‘exceptional uncertainty’ in vaccine-driven recovery
Fund upgrades global forecasts amid early success of vaccine rollout
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
IMF provides $2.7 billion ‘precautionary’ support to Panama
Liquidity line will act as “insurance” for Panamanian authorities grappling with Covid, IMF says
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
New macroeconomic framework needed for recovery – Ghana governor
Public debt levels have breached maximum thresholds and NPLs are likely to climb, Addison says
Eurozone inflation remains stuck at -0.3%
Year-on-year inflation first fell into negative territory in August 2020
New IMFC chair warns against premature stimulus withdrawal
Magadalena Andersson lays out priorities for the IMF over the coming years
Central banks must mobilise their FX reserves
The pandemic and climate crises call for bold action, write Gary Smith and John Nugée
Romanian central bank cuts rates as inflation falls
National Bank of Romania says inflation is below midpoint of target level
IMF’s Georgieva highlights pandemic impact in Latin America
GDP contraction is forecast to be 8% of GDP in 2020, double the level for the global economy