BoE paper studies interest rates across eight centuries

NetApp Venice Bridge of Sighs
Venice was an early financial hub

A new Bank of England working paper traces global risk-free rates back as far as thirteenth century Venice, finding current rates are at their lowest level for eight centuries.

Paul Schmelzing finds that global debt markets became sophisticated enough for a risk-free rate to be recorded in Venice from around 1273, with real rates available from 1311. From there, he stitches together datasets from the banking systems of Venice, Genoa, Spain, Amsterdam, the UK, Germany and finally the US to build

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: