Unconventional monetary policy: Difference between revisions
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imported>Doug Williamson (Create page. Source: Bank of England https://www.bankofengland.co.uk/-/media/boe/files/speech/2020/monetary-policy-and-the-boes-balance-sheet-speech-by-gertjan-vlieghe.pdf?la=en&hash=D76269239470F000514B5F6AA76500590254DBDC) |
imported>Doug Williamson m (Add link.) |
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(UMP). | |||
Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates. | Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates. | ||
| Line 4: | Line 6: | ||
'Unconventional' monetary policy | 'Unconventional' monetary policy includes: | ||
*Quantitative easing (asset purchase programmes) | |||
*Forward guidance | |||
*Negative interest rates | |||
*New central bank lending operations | |||
Also known as 'non-standard' monetary policy. | |||
== See also == | == See also == | ||
* [[Forward guidance]] | |||
* [[Lending operations]] | |||
* [[Modern Monetary Theory]] | |||
* [[Monetary policy]] | |||
* [[Monetary Policy Committee]] | |||
* [[Negative interest rate policies]] | |||
* [[Quantitative easing ]] | * [[Quantitative easing ]] | ||
* [[Reserve requirements]] | * [[Reserve requirements]] | ||
* [[Sterling Monetary Framework]] | * [[Sterling Monetary Framework]] | ||
* [[Supply side policy]] | * [[Supply side policy]] | ||
* [[Zero | * [[Zero lower bound]] | ||
* [[ZLB problem]] | * [[ZLB problem]] | ||
Latest revision as of 09:30, 28 January 2021
(UMP).
Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates.
Historically, mechanisms for influencing the money supply have included the use of open market operations, the central bank discount rate and reserve requirements.
'Unconventional' monetary policy includes:
- Quantitative easing (asset purchase programmes)
- Forward guidance
- Negative interest rates
- New central bank lending operations
Also known as 'non-standard' monetary policy.
