Monetary operations and the financial turmoil

Claudio Borio and William Nelson

BIS Quarterly Review, 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-codes: E43 E49 G21 G32 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisqtr:0803e

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