central banks in large, advanced economies. We first show empirically that large-scale asset purchases affect the exchange …

nonbank deposit-taking e-money issuers (EMIs) (e.g., mobile network operators) can either complement or substitute banks. Case … studies of e-money regulations point to complementarity of EMIs with banks, implying that the development of e-money could …

frontier is explored, the experiences and aspirations of the region's central banks, as expressed in the survey, will help …

the ECB's supply of reserves remains well in excess of the banks' demand, the ECB will likely continue to employ a floor … balance sheet size, encourage banks to manage their liquidity buffers more tightly, and facilitate greater activity in the …, weaken the incentives for banks to manage their liquidity buffers, and discourage interbank market activity. The analysis of …

When uncertain about inflation persistence, central banks are well-advised to adopt a robust strategy when setting …

Central banks in major industrialized economies were slow to react to the surge in inflation that began in early 2021 …