Unconventional policy affects both sides of balance sheets
In financial and economic crises, both the asset and liability sides of central banks' balance sheets play an important role in countering the adverse effects stemming from the financial system, new research from the Bank of Japan posits.
The analysis reveals that it is inappropriate to consider that unconventional policy measures and policy commitment under zero interest rates are completely separate policy measures. The research shows that financial and economic circumstances that require
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