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How to deal with the negative effects of inflated central bank balance sheets?

  • Due to the massive purchases of securities in the last 15 years central banks incur substantial losses likely to persist for several years. On the other hand, the banking sector gains large profits from interest payments on their excess reserves holdings. Central banks and fiscal authorities must now bear the flip side consequences of their bond purchase programs. Populist demands to limit bank profits by drastically increasing minimum reserve ratios in the Eurosystem are creating new severe problems. Instead, a consistent and faster normalisation of central bank balance sheets would be desirable. Central banks should also no longer be central players in government bond markets to restore the lost boundaries between fiscal and monetary policy.
Metadaten
Author:Thomas Jost, Reimund Mink
URL:https://www.suerf.org/wp-content/uploads/2024/04/SUERF-Policy-Brief-860_Jost-Mink.pdf
Document Type:Other
Language:English
Year of Completion:2024
Date of first Publication:2024/04/25
Embargo Date:2024/04/25
Creating Corporation:SUERF
Release Date:2024/05/06
Tag:ecb, minimum reserve, monetary policy
GND Keyword:Europäische Zentralbank; Geldpolitik; Notenbank
Page Number:4
First Page:1
Last Page:4
Urheberrecht:1
Institutes:Fakultät Wirtschaft und Recht / Studiengänge / Betriebswirtschaft (Bachelor)
research focus :WEITERE
Reviewed:ja
Licence (German):Keine Lizenz - es gilt das deutsche Urheberrecht
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