Monetary Policy Tools
Central bank instruments for managing money supply and interest rates.
The instruments central banks use to steer money and credit: open market operations, reserve requirements, the discount rate, quantitative easing and interest on reserves, plus forward guidance, negative interest rates, yield curve control, repurchase agreements, inflation targeting and quantitative tightening.
Use it when
- You need a definition of a monetary tool and how it transmits to the economy.
- You are comparing conventional and unconventional policy.
Watch out for
- Tools differ by country and by central bank; not every central bank uses every tool.
- Effects work through expectations and financial markets and can take months to appear.
The data
11 rows
| Tool | Description |
|---|---|
| Open Market Operations | Buying and selling government securities. |
| Reserve Requirement | Fraction of deposits banks must hold in reserve. |
| Discount Rate | Interest rate charged to commercial banks for central bank loans. |
| Quantitative Easing | Large-scale asset purchases to increase money supply. |
| Interest on Reserves | Paying interest on bank reserves held at the central bank. |
| Forward Guidance | Public communication about the likely future path of interest rates to shape expectations. |
| Negative Interest Rate Policy | Setting policy rates below zero to discourage hoarding cash and encourage lending and spending. |
| Yield Curve Control | Targeting a yield on government bonds of a given maturity by buying as many as needed. |
| Repurchase Agreements | Short-term collateralized loans (repo) and their reverse used to add or drain reserves. |
| Inflation Targeting | A framework in which the central bank commits to a numerical inflation goal and adjusts policy to reach it. |
| Quantitative Tightening | Shrinking the central bank's balance sheet by letting assets mature or selling them. |
Fields
The shape of this dataset, read from the data itself: every column, its type and a real value. Agents can use this to plan a query without fetching the whole document.
| Section | Field | Type | Example |
|---|---|---|---|
| data | tool | string | Open Market Operations |
| data | description | string | Buying and selling government securities. |
Fetch the same bytes
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curl "https://yjtoon.yunusemrevurgun.com/api/dataset/monetary-policy-tools?format=toon"
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