Monetary Operations and the Financial Turmoil
16 Pages Posted: 8 Jul 2012
Date Written: March 3, 2008
Abstract
A proper understanding of central bank operations in response to the recent financial turmoil and of their implications for the monetary policy stance and for market functioning calls for an understanding of operating frameworks. And yet, not only are these the least familiar aspect of monetary policy, they also differ considerably across countries. The frameworks can have a first-order influence on the size and type of liquidity injections employed and on the need for exceptional measures.
JEL Classification: E43, E49, G21, G32
Suggested Citation: Suggested Citation
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