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Friday, 26 June 2020 15:19 WIB

European Central Bank (ECB) President Christine Lagarde, while presenting at an Online Summit organised by the European Business Leaders' Convention, said that we probably have passed the lowest point of the crisis. Additional quotes: Still cautious because of the second wave of infections. Economic recovery will be a complicated matter. Recovery will be incomplete, maybe transformational. We have to use all available policy levers on monetary and fiscal front. This crisis is worse than the 2008-09 financial crisis. The ECB mandate is the same i.e. focus on price stability. The comments...

RECENT NEWS
Fed Vows to Support U.S. Economy's 'Long Road' to Recovery after Dire 2020
Thursday, 11 June 2020 03:30 WIB |

The U.S. Federal Reserve on Wednesday signaled it would provide years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end. In the first economic projections of the pandemic era, U.S. central bank policymakers put into numbers what has been an emerging narrative: that the measures put in place to battle a health crisis will echo through the economy for years to come rather than be quickly reversed as commerce reopens. The...

Fed Sees Rates Near Zero Through 2022, Says Asset Purchases Will Continue
Thursday, 11 June 2020 01:24 WIB | Federal Reserve FOMC The Fed

The Federal Reserve on Wednesday said it doesn't expect to lift short-term rates through the end of 2022. The central bank also said it will keep buying Treasurys and mortgage-backed securities, at least at the current pace. There had been some concerns among some economists and financial markets that these purchases, which the Fed says are supporting market functioning, might end as they have been tapered in recent weeks. The central bank has purchased over $2 trillion of Treasurys and MBS since mid-March. The Fed will buy $20 billion in Treasurys this week and up to $22.5 billion in...

Fed Projects No Rate Increases Through 2022, Inflation Below 2%
Thursday, 11 June 2020 01:08 WIB | Federal Reserve The Fed

The Federal Reserve on Wednesday signaled it won't raise near-zero interest rates at least through 2022, slashed its estimate for U.S. gross domestic product this year to -6.5% and raised its median forecast for 2020 unemployment to 9.3%. The central bank released updated economic projections for the first time since the coronavirus pandemic began in March and temporarily shuttered most of the U.S. Inflation is likely to remain below 2% until 2023. The bank also projected its benchmark fed funds rate would stay unchanged for the next several years, sending a clear message to financial...

ECB's Lagarde Defends Bond Buys Against Northern Challenge
Tuesday, 9 June 2020 00:00 WIB | ECB Lagarde

European Central Bank President Christine Lagarde on Monday defended the aggressive stimulus measures taken by the ECB in response to the coronavirus pandemic, saying they are proportionate to the risk faced by the euro zone. Lagarde was facing criticism from conservative lawmakers from the Netherlands and Germany at a hearing in the European Parliament, with one comparing her to the ill-fated French queen Marie Antoinette. The ECB's massive purchases of government bonds have already come under fire from Germany's Constitutional Court, which has given it three months to justify them or...

ECB Expands PEPP Asset-Buying Program To 1.35 Billion Euros
Thursday, 4 June 2020 19:11 WIB | Bank Sentral Eropa ECB

The European Central Bank, as expected, boosted the size of its Pandemic Emergency Purchase Program on Thursday. The ECB said the envelope for asset purchases was increased by 600 billion euros ($674.5 billion), to 1.35 billion euros. The program is now set to run through at least the end of June 2021, versus the end of 2020, while maturing principal payments from assets purchased under the plan will be reinvested until at least the end of 2022, the ECB said. The ECB left interest rates unchanged, with the deposit rate at -0.5% and the main refinancing rate at 0%. ECB President Christine...

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FISCAL
Fed's Powell: 'Medical Metrics' Most Important Data for U.S. Economy Now: CBS
Monday, 18 May 2020 08:06 WIB

The most important data for the U.S. economy right now are the "medical metrics around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks...

MONETARY
RBA cuts Official Cash Rate by 25 bps to 0.50%, AUD/USD jumps
Tuesday, 3 March 2020 10:38 WIB

At its March monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.50%, as they weighed in the coronavirus outbreak...