Inflation
Colombia cuts rates to record low
On-target inflation allows central bank to provide stimulus as economy faces sharp recession
US disinflation accelerated in April
Core inflation sees steepest drop since the 9/11 attacks
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
National Bank of Poland cuts rates again but predicts recovery
“Significant fall” in activity likely to reverse in latter part of the year, policy-makers say
Bank of Korea cuts policy rate to new record low
Bank of Korea slashes key rate to record low of 0.5%; economy is expected to grow at the slowest pace in over two decades due to Covid-19
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
Israel holds as exchange rate hampers exports and inflation target
Central bank left rates unchanged at 0.1%; government bond purchases support financial stability
Poloz calls for action to avoid deflationary spiral
It is critical to avoid deflation as it interacts “horribly” with debt, outgoing BoC governor says
Turkish central bank cuts rates again
CBRT makes ninth consecutive cut since July 2019 but analyst warns strategy is “unsustainable”
Covid-19 biggest threat to Fed mandate ‘in our lifetimes’ – Clarida
Fed may not provide further forward guidance until September, Richard Clarida says
Sarb carries out fourth consecutive rate cut
Sarb says banks can apply for looser prudential requirements on “case-by-case” basis as it cuts rates to record lows
Indian MPC cuts rates to record low in unscheduled meeting
RBI says Covid-19 is having a more severe economic impact than anticipated
Bailey confirms BoE is considering negative rates
“I have changed my position a bit,” governor tells lawmakers, as UK inflation falls drastically
UK issues negative-yielding bond as inflation wilts
Inflation dropped sharply in April amid the coronavirus lockdown
Economists debate monetary financing of China’s government debt
PBoC adviser dismisses idea of monetising government bonds despite calls from Ministry of Finance think-tank
Pressure builds on central banks to ‘monetise’ sovereign debt
Sarb is the latest institution facing calls to directly purchase Covid-19 related government debt
Norwegian governor says negative rates are unlikely
Øystein Olsen says it is “uncertain how negative rates will influence the economy”
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Eurozone saw limited price convergence from 2001–11 – Bank of Spain
Researchers say this limited long-term alignment should be added to central bank policy framework
PBoC’s post-pandemic policy is still up in the air
The Chinese central bank has resisted radical easing, but with the NPC meeting this week, more loosening could be on the way, despite debt-level concerns, writes Hui Feng
Mexican central bank cuts rates but stays cautious on inflation
Falling peso and supply disruptions make inflation outlook “uncertain” despite recession, board says
RBI economists hunt for suitable core inflation measure
Study examines 11 candidates for a less volatile inflation measure that is easy to communicate
Economists race to merge epidemiology and macro
Promising results are emerging, but workable forecasts may be some way off
RBNZ nearly doubles asset purchase programme
Policy-makers aim to front-load stimulus as economy faces “significant and unprecedented decline”