Monday, 06 July 2020
New York
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...

Bank of England Steps Up Virus Fight With Bond-Buying Boost
Thursday, 18 June 2020 18:35 WIB | BOE Ekonomi inggris

The Bank of England intensified its response to the fallout from the coronavirus by expanding its bond-buying program, taking another step in the uphill battle to lift the economy out of the worst recession in centuries. Policy makers led by Governor Andrew Bailey voted 8-1 to boost purchases by 100 billion pounds ($125 billion) while keeping the benchmark interest rate kept on hold at a record-low 0.1%. The decision will keep the lid on government borrowing costs even as the Treasury ramps up bond sales to finance a massive support package to save jobs and keep...

SNB Focuses on Franc Intervention With Rates Kept on Hold
Thursday, 18 June 2020 14:48 WIB | SNB,

The Swiss National Bank said aggressive foreign exchange interventions remain its main tool for pushing back against the appreciation in the franc caused by the coronavirus pandemic. Keeping interest rates unchanged, SNB chief Thomas Jordan reiterated that the currency is ''highly valued,'' and said the central bank will continue to sell it as needed. Officials warned that the economy will contract about 6% this year. The SNB has stuck with its tried-and-tested approach of negative interest rates and a pledge to intervene in currency markets even as its...

Fed Powell Beats Drum For More Government Aid To Bolster Economy
Thursday, 18 June 2020 03:26 WIB |

The U.S. economy is beginning to recover from the worst of the coronavirus crisis, but with some 25 million Americans displaced from work and the pandemic ongoing, it will need more help, Federal Reserve Chair Jerome Powell told lawmakers on Wednesday. With the road back from recession likely to take some time, Powell said interest rates will likely need to stay near zero for œan extended period and the U.S. central bank will continue to buy bonds to push down on longer-term borrowing costs. But the Fed chief, who also testified before the Senate Banking Committee on Tuesday, noted...

Fed Chair Powell Says Strong Job Market Can Reduce U.S. Racial Inequality
Tuesday, 16 June 2020 23:19 WIB | The Fed

The best way the Federal Reserve can help reduce racial inequality is to return the U.S. labor market to its pre-coronavirus strength, U.S. Fed Chair Jerome Powell said on Tuesday, as he sidestepped questions over whether the Fed itself contributes to the problem. Anger over racism and inequality has swept the country since the police killing of George Floyd May 25 in Minneapolis, with people protesting en masse despite the ongoing threat of infection during the coronavirus pandemic. The unrest has sharpened the public focus on economic plight of black and Latino families, who on average...

BOJ keeps policy steady, says to pump $1 trln via lending facilities
Tuesday, 16 June 2020 10:06 WIB | Bank of Japan BOJ

The Bank of Japan kept monetary policy steady on Tuesday and stuck to its view that the economy will gradually recover from the damage caused by the coronavirus pandemic, signalling that it has taken sufficient steps for now. As widely expected, the central bank maintained its pledge to guide short-term interest rates at -0.1% and the 10-year government bond yield around 0% by a 8-1 vote. It also made no changes to a range of programmes it put in place to channel money via financial institutions into companies faced with slumping sales from the pandemic. The BOJ said it expects to pump...

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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...

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...