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Journal articles

Politiques monétaires : le grand écart

Abstract : The financial crisis and inflationary pressures driven by oil and food prices generated various monetary policy answers. The Fed lowered the target for the Federal Funds rate by 3 percentage points since last August to 2.25% and will lower it again to 1.75% from April to avoid a too sharp slowdown of US activity. The ECB kept interest rates unchanged and will leave them at 4%, waiting for inflation to decelerate below 2% in the euro area. The Bank of England cut the base rate by 0.75 percentage point to 5.0 and will lower it to 4.25% by early 2009, to allow inflation to decelerate without output growth falling too rapidly. The Bank of Japan will maintain interest rates at 0.5% with inflation remaining subdued and output growth prospects uncertain.
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Submitted on : Wednesday, December 1, 2021 - 3:37:29 AM
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Christophe Blot, Catherine Mathieu, Christine Rifflart, Danielle Schweisguth. Politiques monétaires : le grand écart. Revue de l'OFCE, Presses de Sciences Po, 2008, pp.229 - 248. ⟨10.3917/reof.105.0249⟩. ⟨hal-03459800⟩



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