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Negative policy interest rates and exchange rate behavior: Further results

John Thornton () and Chrysovalantis Vasilakis

Finance Research Letters, 2019, vol. 29, issue C, 61-67

Abstract: Since 2012, seven central banks have sought additional monetary policy accommodation through the adoption of negative policy interest rates (NPIR). The policy resulted in a significant reduction in exchange rate volatility and weaker exchange rates in NPIR--adopter countries relative countries that did not adopt the policy.

Keywords: Negative policy interest rates; Exchange rate behavior; Difference in difference estimation (search for similar items in EconPapers)
JEL-codes: E52 F31 G15 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1016/

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