E: Policy, Law and Regulation

Abstract

The banknotes are a round-up of news and salient issues that have affected central bankers in the past three months. The notes address the consequences of Russian invasion of Ukraine; spiralling inflation as major macroeconomic trend in late 2021; the quantitative easing programme of the Federal Reserve in the US; the Bank of England (BoE) raising interest rates twice; the European Central bank (ECB) declining to raise interest rates; China lowering interest rates as the economy cools, to say a few. The article highlights developed and developing countries' central bank decisions most notably in relation to inflationary pressures. 655/39Monetary policy spillover to small open economies: Is the transmission different under interest rates?