Near-zero interest rates of limited help to non-financial firms
Policies of near-zero interest rates maintained by central banks of major advanced economies have lowered lending rates to non-financial firms only to a limited extent, according to an article featured in the latest BIS quarterly review, published yesterday.
Interest rate pass-through since the financial crisis by Anamaria Illes and Marco Lombardi, investigates whether the pass-through of monetary policy to rates on bank loans to non-financial firms has been impaired in the aftermath of the
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