Latest articles and blogs
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Back to the old normal? Monetary policy implementation in a landscape of rising interest rates and a shrinking Eurosystem balance sheet
With monetary policy normalisation proceeding, the ECB has begun a review of how it will implement monetary policy in the future.
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Don’t blame the mirror if your face is faulty – assessing the symmetry of the ECB´s monetary policy responses
The symmetry of the guideline for the monetary policy stance has recently attracted considerable attention in central banks’ communications.
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Future of payments at hand
The central bank is responsible for the reliability of payment systems and must be able to respond swiftly to developing payment forms. At the same time, access to cash must be ensured. In the final analysis, a flexible range of services benefits everyone.
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Recent economic crises have modified the Bank of Finland's market operations
In recent years central banks have eased monetary policy by conducting large-scale asset purchases and offering banks credit on affordable terms. These measures promote price stability and facilitate economic growth and employment.
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Blog: On the merits of calendar-based forward guidance
The existence of a lower bound for nominal interest rates complicates the monetary policy. Central banks have lately tried to circumvent this problem by applying non-standard monetary policy measures.
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The financial crisis changed the instruments but not the objectives of monetary policy
Central banks have acted forcefully to provide monetary accommodation. With little room for manoeuvre for standard interest rate policy, unconventional measures have been adopted.