Interest rates
Book notes: In the combat zone of finance, by Svein Harald Øygard
A fascinating and readable book for those charged with maintaining financial stability and interested in a new perspective on institutional efficiency
RBA holds rate and reveals forecast scenarios
Cash rate target remains at 0.25%; RBA maintains three-year bond yield target at 0.25%
Bank Negara Malaysia cuts rate as global outlook darkens
Fresh easing measures come as central bank foresees “particularly challenging” first half of year
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Dutch pension funds record heavy losses – DNB
Major pension funds warn they may have to cut payouts unless finances improve soon
ECB launches new lending facility, but holds rates
Lagarde announces cut for banks’ borrowing rate, but the ECB has not expanded asset purchases
Riksbank open to future rate cut
Swedish central bank keeps stimulus package unchanged in monetary policy meeting
Turkey continues easing cycle with 100bp cut
Policy-makers see oil shock creating room for stronger easing
Bank of Mexico cuts rates in emergency meeting
Central bank unveils set of measures to boost liquidity amounting to $30.5 billion, 3.3% of GDP
Central Bank of the Philippines cuts rates at emergency meeting
Emergency move brings central bank's rate cuts this year to 125 basis points
Sarb cuts rates to historic low
Unanimous decision comes as growth outlook and inflation forecasts revised; South Africa’s risk profile has increased
National Bank of Poland cuts rates to record low of 0.5%
Central bank includes state-guaranteed bonds in its asset purchase programme
RBNZ to start buying local government debt
Central bank expands its large-scale asset purchases in the wake of the Covid-19 shock
Bank of Mexico lacks scope to counter Covid-19 – minutes
Officials highlight limited scope to lower rates below 6.5% without stoking inflation
Should the Fed be next to implement yield curve control?
The Reserve Bank of Australia is now the second G20 central bank trying to control longer-term interest rates. Could the Fed be next?
The long march to global growth
Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, says that China’s growth is fuelling innovation and modernisation, but financial regulation and governance needs to be tightened up for China to take its place at the top…
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
Chile cuts rates to record low 0.5%
Central bank expands banking bond purchases to $5.5 billion, GDP expected to shrink by 5% quarter on quarter
China makes surprise rate cut to resist crisis
PBoC unexpectedly cuts the seven-day repo rate while injecting liquidity, suggesting a willingness to deploy stronger countercyclical measures
Bank of Canada launches large-scale asset purchases
Measures target market function more than monetary easing, says governor Stephen Poloz
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
RBI follows ECB with crisis-fighting TLTROs
Central bank slashes rates and launches targeted liquidity measures
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
Bank of Mexico cuts rates 50bp in emergency meeting
Analysts expect further cuts as the economy is expected to enter a sharp recession