Monetary Policy Benchmarks 2022 report – a pandemic legacy

Benchmarks data offers insights into how Covid has impacted policy frameworks, plus governance, market operations and policy transparency

View a printable version of this report in PDF format

In much of the world, monetary policy underwent a rapid pivot between the 2021 and 2022 benchmarks, from aggressive pandemic stimulus to a swift tightening to contain inflation. The US Federal Reserve was not the first to act, but by setting conditions in dollar funding markets worldwide, it has had by far the largest impact. The US policy rate has moved up from the range of 0.00–0.25% to 1.50–1.75% in the space of a few months this year

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