Central bank monetary policy during the Covid-19 pandemic: the irruption of digital currencies

  1. Náñez Alonso, Sergio Luis
  2. Echarte Fernández, Miguel Ángel
  3. Jorge-Vázquez, Javier
  4. Reier Forradellas, Ricardo
Actas:
11th International Conference on Applied Economics : Contemporary Issues in Economy

Editorial: Instytut Badań Gospodarczych

ISBN: 978-83-65605-38-2

Año de publicación: 2021

Páginas: 22

Tipo: Aportación congreso

DOI: 10.24136/EEP.ABS.2021.1 GOOGLE SCHOLAR

Objetivos de desarrollo sostenible

Resumen

This article analyzes the monetary policy of the main central banks (ECB, Fed, BOE, BOJ) during the Covid-19 pandemic. The increase in public debt in most eurozone countries and other currency areas is being financed by stimulus policies based on sovereign bond purchases. This trend predates the pandemic but has been exacerbated by the financial needs of governments in the face of this health and economic crisis. In addition, in recent years we have seen a policy of low interest rates and some countries have issued debt at negative rates.