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Post-crisis monetary policy modelling
(27.04.2018)
Bank of Finland. Bulletin 1/2018
Bank of Finland. Bulletin 1/2018
In the aftermath of the global financial crisis many central banks cut their policy rates close to zero or even below and introduced non-standard monetary policy measures. The financial crisis and the European debt crisis ...
Transparency and communication improves the efficiency of monetary policy
(24.08.2018)
Bank of Finland Bulletin. Blog
Bank of Finland Bulletin. Blog
Inflation-targeting central banks adjust their interest rates in response to inflation. If inflation is well below target and monetary policy is credible, consumers and investors should expect interest rates to fall. If, ...
Are market expectations in line with the forward guidance of the ECB?
(28.09.2017)
Bank of Finland. Bulletin 4/2017
Bank of Finland. Bulletin 4/2017
By promising low interest rates in the future, a central bank can provide stimulus for the economy today. The effectiveness of this kind of forward guidance can be assessed by the impact it has on market expectations ...