Yale School of Management

Posts by Monetary Policy

Conventional Monetary Policy and the Zero-Lower-Bound

April 30, 2020
Central banks across the world have eased monetary policy to facilitate smooth market functioning during the Covid-19 crisis. Interest rate cuts are their primary policy tool. Global interest rates are now at historic lows, with 14 of the 38 central banks in a Bank for International Settlements (BIS) database setting their nominal key policy rates at or below 0.25 percent; three are below 0. Continue reading “Conventional Monetary Policy and the Zero-Lower-Bound”