Status reports

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Monitoring centrálních bank - prosinec 2017
Česká národní banka
Most of the central banks under review, including the ECB, are keeping their interest rates at low levels, and several are also continuing their unconventional monetary policy programmes, although the ECB, for example, has reduced its monthly asset purchases. A major exception is the US Fed, which, as expected, is continuing to raise its key interest rate and, according to outlooks, will maintain this trend next year. The UK has also seen its first rate hike in ten years. By contrast, the Hungarian central bank’s new instruments are aimed at lowering yields at the longer end of the yield curve. Spotlight focuses this time on the countercyclical capital buffer. In our Selected speech, outgoing Fed Chair Janet Yellen sums up US monetary policy over the last ten years.
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