Monetary policy
Policy of interest rates or money supply
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We include updates on Gold standard, Maastricht Treaty, Interest rate, Quantitative easing, Money supply, Gresham's law, West African CFA franc, Fractional-reserve banking, Central African CFA franc, Phillips curve, Eastern Caribbean dollar, Cross of Gold speech, Money creation, History of the euro, CFP franc, Taylor rule ... and more.
| March 26 2024 |
Reserve requirement
Nigeria maintained 45.00% Cash Reserve Ratio for deposit money banks and increased merchant banks' requirement to 14.00%
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| 2023 | Original target year for establishing the African Economic Community with a single currency. |
| June 30 2023 |
Reserve requirement
Philippines set reserve requirement to 9.50%
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| April 2023 |
Reserve requirement
Hungary increased reserve requirements from 5.00% to 10.00%
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| April 6 2023 |
Reserve requirement
India set reserve requirements to 4.50%
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| January 1 2023 |
The euro
Croatia officially replaced the Croatian kuna with the euro. Cash and non-cash transactions were simultaneously introduced, and the country also entered the Schengen Area.
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| 2022 |
The euro
Portuguese escudo banknotes remained exchangeable until this year.
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| 2022 |
Interest rate
Conclusion of the second zero interest-rate policy period in the United States, marking the end of the monetary response to the COVID-19 pandemic.
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| 2022 | The African Union expanded to 55 members, with ongoing discussions about a potential common currency. |
| July 12 2022 |
The euro
The Council of EU adopted a currency decision allowing Croatia to join the eurozone, with the exchange rate between euro and kuna set at 7.5345 HRK.
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| March 31 2022 |
Reserve requirement
Poland set reserve requirement to 3.50%
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| 2020 |
Interest rate
United States reintroduces zero interest-rate policy (ZIRP) in response to the economic challenges caused by the COVID-19 pandemic.
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| 2020 | Originally targeted year for the African Central Bank's creation, as proposed in the 1999 Sirte Declaration, though this timeline was not met. |
| July 10 2020 |
The euro
Croatia commenced participation in the ERM II (Exchange Rate Mechanism), a crucial step towards euro adoption.
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| June 30 2020 |
Eastern Caribbean dollar
Final date of legal tender status for 1 and 2 cent coins.
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| April 10 2020 |
Reserve requirement
Croatia reduced reserve requirements from 12% to 9%
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| March 27 2020 |
Reserve requirement
Reserve requirements for net transaction accounts were eliminated, effectively removing all reserve requirements in the United States.
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| March 26 2020 |
Reserve requirement
United States reduced reserve requirement ratios to 0%
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| 2019 |
Chicago plan
Christine Lagarde, then managing director of the IMF, publicly expressed skepticism about the Chicago Plan, specifically criticizing the proposal to eliminate private banks' role in creating broad money supply.
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| 2019 |
Eastern Caribbean dollar
The Eastern Caribbean Central Bank introduced a new family of polymer substrate banknotes in a vertical format, featuring new designs for 5, 10, 20, 50, and 100 dollar denominations.
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| 2018 |
Interest rate
By this year, only a few corporate bonds had traded at negative nominal interest rates, highlighting the exceptional nature of this financial phenomenon.
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| 2015 |
Interest rate
Nestle became a notable example of a corporation with AAA-rated bonds trading at negative nominal interest rates, a rare occurrence in corporate bond markets.
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| 2015 |
Interest rate
Conclusion of the first zero interest-rate policy period in the United States, ending the monetary response to the 2008 financial crisis.
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| 2015 | Anthony Maruping announced that Kenya, Uganda, Tanzania, Rwanda, and Burundi committed to joining a common currency within the next ten years. |
| July 2015 |
Eastern Caribbean dollar
1 and 2 cent coins withdrawn from circulation.
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| January 1 2015 |
The euro
Lithuania joined the eurozone.
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| July 20 2014 |
Reserve requirement
Nepal set reserve requirement to 6% for commercial banks
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| January 1 2014 |
The euro
Latvia joined the eurozone.
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| July 1 2013 |
The euro
Croatia completed EU accession, setting plans to adopt the Euro Currency.
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| February 19 2013 |
Reserve requirement
Turkey set reserve requirement to 8.50%
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| 2012 |
Eastern Caribbean dollar
The Eastern Caribbean Central Bank introduced banknotes with Braille features for 10, 20, 50, and 100 dollar notes, designed with a cricket theme of balls and stumps to assist blind and visually impaired users.
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| January 18 2012 |
Reserve requirement
Eurozone reduced reserve requirements to 1%, down from 2%
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| September 2011 |
The euro
Diplomatic discussions revealed potential changes to the eurozone's legal status, which could impact future euro adoption by Eastern European countries.
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| April 29 2011 |
Reserve requirement
Sri Lanka set reserve requirement to 8% of total rupee deposit liabilities
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| April 1 2011 |
Reserve requirement
Russia increased reserve requirement to 4.00%, up from 2.5% in January 2011
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| January 1 2011 |
The euro
Estonia joined the eurozone.
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| December 15 2010 |
Reserve requirement
Bangladesh raised reserve ratio from 5.50% to 6.00%
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This contents of the box above is based on material from the Wikipedia articles Chicago plan, Eastern Caribbean dollar, Reserve requirement, History of the euro, African Monetary Union & Interest rate, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.