Majority of central banks use corridors to set market rates

A handful use floors due to unconventional policy, and some use other methods

A majority of central banks that responded to Monetary Policy Benchmarks 2021 use a corridor system to set market interest rates, though other methods are also common.

Out of the 35 respondents, 18 use corridor systems. A further six operate floor systems, and five more report using other methods. The remaining central banks did not complete the question – most of these do not set monetary policy using interest rates.

A corridor system uses a deposit rate to set a floor and a lending rate to

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