Growth
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
Bank of Mexico cuts rates 50bp in emergency meeting
Analysts expect further cuts as the economy is expected to enter a sharp recession
China will suffer recession, say Bank of Finland experts
Economic policy response has been fragmented and banks may not respond to PBoC incentives – research
Bank of Mauritius launches Covid-19 response package
Bank unveils five measures designed to bring relief for businesses and keep credit flowing
The Tokyo Olympics: downside risks prevail
The Bank of Japan’s latest stimulus effort seems to be weak, and comes at a time when the benefits of hosting the Tokyo Olympics may be overstated – even if the games still take place
RBNZ reduces rates by 75bp in emergency meeting
Central bank says future purchases of government bonds preferable to lower rates
Bank of Israel unveils actions to boost market function
Repo operations and asset purchases designed to tackle high volatility
PBoC injects $79 billion into virus-hit economy
Targeted RRR cut encourages smaller banks to lend to SMEs; more easing steps expected to stabilise economy
Norges Bank cuts rates 50bp in emergency meeting
Central bank offers extraordinary three-month loans to banks and calls on government to reduce countercyclical buffer
Lagarde seems to stumble as ECB announces coronavirus response
ECB announces more QE, expanded financing and loosening of banks’ capital and liquidity buffers
Bank of Spain paper looks at macro-pru and growth at risk
Financial cycle, time elapsed and type of measure has major impact on effectiveness – researcher
ECB likely to shy away from rate cut, analysts say
Central bank expected to unveil targeted measures to support banks and SMEs
Covid-19 unleashes major market shock
Oil prices tumble, dragging down stock markets worldwide; sovereign bonds rally
Fed action likely to affect policy plans in Brazil and Mexico
In spite of weaker currencies, both countries may require lower rates to tackle weaker growth and higher rate differentials
Bank of Thailand relaxes forex regulation amid virus shock
Thai central bank is expected to ease monetary policy again to boost economy after slashing rates to record low in February
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
Bank of Canada follows Fed with coronavirus rate cut
It is “becoming clear” virus will impact growth more than previously expected, central bank says
Inflation targets back in the spotlight
Monetary policy can do little to offset the impact of Covid-19
Knot warns of drawbacks of negative rates
Consumers are increasing their savings rather than their consumption
Major central banks ready to respond to coronavirus
Fed, ECB and Bank of Japan say they are willing to act; central bank events disrupted
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai
RBI economists build nowcast using dynamic factor model
Model closely tracks recent slowdown in activity, authors say
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière