One of the three new winners of the Nobel Prize in Economics funded by Sweden’s Riksbank, Ben Bernanke, likes challenges – his biography, and above all, his achievements, are proof of this. For this reason, when speaking...
For well over a decade, governments in the developed countries have been borrowing at very low interest rates, sometimes even at negative rates. This is going to end, and probably for a long while.
It has been several weeks since the first news of Russian troops invading the sovereign territory of Ukraine shook the world.
Cash is a safe and highly liquid instrument for payment of goods and services and other transactions which is issued by a central bank.
We have welcomed the initiation of the tightening of monetary policies early in the Fall. Determining an “optimal” timing of the decision to change the monetary policy stance is difficult - says Alfredo Cuevas, economist at...
Most often we get to hear about the dollar, the euro or the Swiss franc. The pound will get a mention now and then, and sometimes the yen. The press often reports on emerging currencies, such as the Turkish lira, the Russian...
The Ancient Greeks were right on most issues, but unfortunately they did not know the concept of acceleration, or at least they did not possess the mathematical apparatus to formally describe it. Centuries had to pass before we...
This week marks two anniversaries: the 20th anniversary of the initiation of unconventional monetary policy by the Bank of Japan and the first anniversary of the launch of quantitative easing by NBP.
NBP’s response to the challenges posed by COVID was agile, forceful, and added innovative elements to existing policy frameworks. Poland is well positioned for a strong recovery. 2021 should be much better than 2020 – says...
The policy response of Narodowy Bank Polski has been swift and large and effective in limiting the economic scarring effects of the pandemic – adequate liquidity provision remains critical in the short-term. The anti-crisis...