The New Paradigm: Analysis of Eurosytem Monetary Operations

John Graham, Alaoishe Luskin and Anthony Nolan
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John Graham: Central Bank of Ireland
Alaoishe Luskin: Central Bank of Ireland
Anthony Nolan: Central Bank of Ireland

Quarterly Bulletin Articles, 2016, 56-67

Abstract: In 2015 and the first half of 2016, the actions of global central banks continued to be one of the main drivers of financial markets and a key focus for market participants. In this article, we review the Eurosystem experience over this period outlining the main changes to the Eurosystem’s operational framework, in particular the expansion of the asset purchase programmes, and analyse the impact of these measures on Eurosystem liquidity provision and on liquidity conditions. In this context, the article also summarises developments in the euro-area money market over the review period and provides a brief summary of the debt capital market activity of both the Irish sovereign and main domestic banks.

Date: 2016-07
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Persistent link: https://EconPapers.repec.org/RePEc:cbi:qtbart:y:2016:m:07:p:56-67

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