Fiscal policy
Singapore eases monetary policy sharply and taps reserves
MAS flattens currency appreciation slope to zero after government unveils $34 billion stimulus
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
RBNZ lowers banks’ core funding ratios
Central bank reduces ratio to 50% to support government’s crisis lending scheme
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
ECB strongly criticised by French and Italian leaders
Lagarde’s words spark Italian anger while Macron says first ECB measures are not sufficient
NY Fed increases repo operations in new bid to tackle funding squeeze
Trump announces fiscal and travel measures as Fed steps up efforts to support bank funding
Dutch economy more volatile than European peers – DNB research
Changes to pension system, mortgage markets and budgets could reduce volatility, paper argues
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, the book offers countries advice in making a sea change in their economic statuses
Costa Rican central bank pulled into fiscal debate
Government split on how fiscal rule should be calculated as fiscal deficit continues upward trend
Latin America must prepare for rapid ageing – Bank of Spain paper
Pensions spending set to rise sharply as potential growth falls, researchers warn
Norges Bank governor points out limits of oil-driven spending
Higher public spending based on fund’s return may hamper economic transition, says Olsen
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
Riksbank’s Skingsley calls for other policy areas to support monetary stimulus
First deputy governor says Swedish central bank has tools to react to future recessions
IMF cuts forecast again, but says slowdown may be ending
Fresh downward revision to growth outlook set against “tentative stabilisation”, says Gita Gopinath
Climate risk models not up to scratch, warns BIS report
New research highlights models’ inability to accurately anticipate climate risk; says central banks must not become “climate rescuers of last resort”
Spanish governor calls for consolidation and reforms to preserve growth
Hernández de Cos highlights Spain’s stronger export sector after financial crisis
Chile unexpectedly halts forex interventions
In December, interventions helped peso appreciate, but it has resumed downward trend
Trump’s criticism undermining confidence in Fed – Yellen
Political pressures could hurt central bank independence, says former Fed chair
Trump’s tax cuts boosted growth and jobs – Dallas Fed paper
Researcher uses state-level data on tax cuts to estimate national impact
Argentinian president appoints new governor
Miguel Angel Pesce rejects high interest rates as means of reducing inflation and backs price controls
Chile’s forex intervention likely to stabilise peso – experts
Much depends on the reform programme the government chooses to adopt, however
IMF chief calls for climate-related stress tests
Fund will work more closely with central banks to tackle climate risks, Kristalina Georgieva says