Global spillovers not unique to US monetary policy – BoE paper

US dollars and euros

The US is not the only country to create monetary policy spillovers via both macroeconomic and financial channels, research published by the Bank of England finds.

Silvia Miranda-Agrippino and Tsvetelina Nenova say the world is becoming “gradually more multipolar”, raising the importance of understanding spillovers in reserve currencies.

They note that while the role of the dollar in creating spillovers via both macroeconomic and financial channels is well documented, the evidence is less

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 or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

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: