The future of balance sheet policies
What tactics will central banks deploy?
“I might start with forward guidance,” former vice-chairman of the US Federal Reserve Donald Kohn tells Central Banking, while mulling over a potential sequence in the future use of unconventional monetary policies. “And perhaps if it wasn’t as credible as I hoped, I could supplement it by a little short-term yield curve control and see whether that got me what I wanted in terms of stimulating the economy and getting the inflation towards target. Then, if further stimulus was required, I could
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Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
BoJ scraps rigid bond yield cap
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The predicament of bloated central bank balance sheets
Swollen balance sheets carry significant risks for combating inflation, ensuring financial stability and preserving central bank credibility, independence and effectiveness. How can central banks reduce them?
Bank of Japan steps up bond purchases
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