Coronavirus
FCA court victory gives clarity to SMEs over Covid disruption
Court ruling will see a larger number of businesses receive payouts from their insurers
Design flaws in Covid relief package cost millions of jobs – Fed paper
Delay to paycheck protection programme had “very substantial” impact, economists argue
Bank of Israel announces major increase in FX interventions
Central bank announces FX spend in advance for first time and pledges 40% increase
Covid-19 data gaps threaten US recovery, researcher says
Minneapolis Fed economist urges statistical agencies to include diagnosis questions in surveys
Economics Benchmarks 2020 report – executive summary
Shedding light on economics governance, salaries, forecasting, research, publications and more
IMF welcomes Rwandan central bank’s Covid response
National Bank of Rwanda funnelled liquidity to banks and cut policy rates
Chile’s central bank to boost reserves by over 30%
CBC will purchase $12 billion to bring reserves to 18% of GDP before IMF credit line ends
BIS research tracks changing consumption patterns
Pandemic has led to “catching-up” process in e-commerce, bulletin article says
Riksbank to increase risk buffer
Swedish central bank concerned about future effects of asset purchases on balance sheet
RBI tells banks to prepare for delayed impact of Covid-19
Banks have avoided worst of the pandemic, but they must now raise capital, central bank says
Inflation could ‘approach’ FOMC target quicker than expected – George
Kansas City Fed president says decline in inflation has been idiosyncratic
MAS urges Singaporeans to use digital ‘red envelopes’ during Lunar New Year
E-hong bao help reduce the carbon emissions of printing banknotes, MAS says
IMF raises precautionary balance target by a quarter
Some executive board members wanted higher raise amid uncertainty over pandemic’s impact
Fed’s Clarida says vaccine rollout has ‘brightened’ 2021 economic outlook
Rising Covid cases are downside in near term, but economy should bounce back, says vice-chair
Firms and households form inflation expectations very differently – paper
Confidence in economy has strongly divergent effects, Central Bank of Ireland research finds
Central banks must become ‘market-makers of last resort’ – BoE’s Hauser
Measures used in Covid-19 crisis are insufficient for the long term, BoE official says
Bank of Israel increases FX interventions to tame shekel
Central bank’s foreign reserves reach new record level
Pandemic has raised risks for smaller UK financial firms – FCA
Over a fifth of firms responding to survey are at heightened risk of failure, UK regulator says
Furlough schemes may conceal slack in EU labour market – ECB research
The longer the pandemic continues, the more job reallocation will be needed, authors say
Hernández de Cos encourages banks to use capital buffers
Basel Committee chair says it is “only a matter of time” before losses become apparent
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
US may face ‘jobless recovery’ despite huge stimulus
Economists warn fiscal stimulus has been poorly targeted; Ben Bernanke defends Fed policy
Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields