Economic Commentaries: The central banks’ extraordinary measures during the financial crisis

Date 28/07/2009

What can a central bank do when the banks stop lending money to each other, the companies find it difficult to fund their operations and the central bank's policy rate is so close to zero that it is not possible to reduce it any more to stimulate the economy? This Economic Commentary describes the measures that the central banks have taken to counteract the effects of the financial crisis.