Use of asset purchase programmes for monetary policy wanes

Additional central banks end scheme, as more institutions forecast decrease

The use of asset purchase programmes (APPs) decreased further among central banks partaking in the Monetary Policy Benchmarks 2023.

Just seven (21%) of 33 central banks say they operate an APP, a fall from 26% reported in 2022 and 34% in 2021. This likely reflects the wind-down of programmes launched to respond to Covid-19.

Samples differ from year to year, but 20 (61% of 33 central banks) participants in the 2023 benchmark also participated in 2022. Of these 20, two institutions that

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