Blogs

Comments by ECB chief economist, Philip Lane – We will adjust PEPP composition as much as necessary, for as long as needed – Non-fundamental volatility in spreads impairs the smooth transmission of policy See here for global coronavirus case data

ECB notes in a pre-release of its economic bulletin – Euro area real GDP could fall by around 5% (mild scenario), 8% (medium scenario), and 12% (severe scenario) this year See here for global coronavirus case data

The latest Reuters poll of economists on the RBA shows The RBA will be meeting again next week on 5 May but is expected to leave policy unchanged on all fronts i.e. cash rate and bond purchases.

At 1.35bn NZD, although the RBNZ may change this amount at any time. Comes as the RBA is on a 'tapering' path for lower bond purchase volumes in its QE program.

Something to keep an eye on in Canada on May 1 Current Governor Poloz retires from his position in June Pundits like the chances of Carolyn Wilkins, currently Senior Deputy Governor 

Japan eco min Nishimura commenting following the abysmal (in terms of way below target) inflation data out earlier: – will cooperate with BOJ to ensure japan will not return to deflation Data:

Bank of Japan minutes (16 March meeting) note the damage done by the spread of the coronavirus  – consumer sentiment could sour rapidly if markets remain unstable

BoC Gov Poloz spoke to business students via videoconference Headline points are here: Reuters and MNI both have recaps posted: – Reuters: – MNI: Poloz retires from his position in June:

Paycheck Protection program widened to more lenders  See here for global coronavirus case data

Credit Agricole, preview comment on the Reserve Bank of Australia monetary policy meeting (RBA meeting is May 5).   CA say the RBA is likely to "leave its YCC parameters unchanged and, given that it has cut its government bond purchases, there should be little to inspire a further rally in the AUD."