To promote the Masters Degree in Central Banking and Financial Regulation, from the Unversity of Warwick co-sponsored by the Bank of England. We will be holding a webinar on 20th May 2020.
Central bank balance sheets are not well understood – but not only do they define the central bank, they are the most powerful weapon in it’s armoury.
It’s balance sheet enables a central bank to set interest rates, issue bank notes, act as lender of last resort, underpin the banking payments system and control the supply of base money.
In the context of Covid-19, it is the CB balance sheet that is being used to support the real economy, through monetary expansion and the supply of cheap credit. This has echoes for the policy support during the Great Financial Crisis and the sluggish recovery.
If you have questions about what central banks are doing, this is the time and place to ask.