Bundles

9 April 2020

Covid-19: The global battle continues

Our pick of this week's stories from ING's economists on the battle against the coronavirus and the struggle to keep global economies afloat

In this bundle

Watch: Why the Covid-19 stimulus measures aren't always what they seem

Governments around the world have pledged billions to help their struggling economies during the coronavirus crisis. But ING's Rob Carnell in…

Pandenomics: How Covid-19 could change the world

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Pandenomics: How Covid-19 could change the world

We are nowhere near knowing when the Covid-19 pandemic will end or how bad things will really get. But the world may never be the same again. The pandemic…

Carsten on the crisis: What the eurozone needs to do next

2020 will probably be the worst year for the eurozone since the financial crisis of 2008 or maybe even worse. That's according to ING's Head of…

ECB: The seven days to Lagarde's 'whatever it takes'

The just-released minutes of the 12 and 18 March European Central Bank meetings illustrate the ECB's road to another 'whatever it takes'…

Austria

Austria’s Covid-19 exit strategy

Austria was one of the first countries to go into a complete lockdown and is now at the forefront of exiting the Covid-19 measures. Will this strategy be…

CEE Sovereigns: Fiscal and rating impact from Covid-19 crisis

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CEE Sovereigns: Fiscal and rating impact from Covid-19 crisis

Growth contraction and fiscal support packages will see fiscal deficits and debt ratios spike in 2020. This shouldn’t be a problem for Bulgaria,…

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Bank of England and Treasury announce temporary monetary financing

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United Kingdom

Bank of England and Treasury announce temporary monetary financing

The agreement between the Bank of England and UK Treasury to give the latter access to a larger overdraft will rekindle the debate over direct monetary…

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Poland

Poland's central bank cuts rates and raises implicit QE

After the extraordinary rate cut in March, Poland's central bank did their own version of 'whatever it takes' by cutting rates further by…

United States

US: The Forceful Fed

The minutes to the emergency 15 March FOMC meeting show the Fed quickly grasped the economic and financial market threat posed by Covid-19 and the…

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The biggest plumbing bill, ever

The Fed has piped the financial system with a myriad of mechanisms in recent weeks. We break these down and make sense of what is on the mend, and what…

Will the Bank of England's commercial paper facility work, and how?

Credit

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United Kingdom

Will the Bank of England's commercial paper facility work, and how?

The Bank of England and HM Treasury launched the Covid Corporate Funding Facility (CCFF) last month to restore the functioning of the Sterling Commercial…

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Spreads and future default rates

We believe that given the ING base case economic scenario containing a bounce back in economic activity in 3Q, spreads are more than fairly valued and we…

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