Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru
This paper provides an overview of the reserve requirement measures undertaken by the Central Bank of Peru. It provides a rationale for the use of these instruments as well as empirical evidence of their effectiveness. In general, the results show that tightening reserve requirements has the desired effects on interest rates and credit levels at both banks and smaller financial institutions (cajas municipales).
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| Format: | Working Papers biblioteca |
| Language: | English |
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Inter-American Development Bank
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| Subjects: | Monetary Policy, Interest Rate, Exchange Rate, Fiscal Policy, Policy Evaluation, E51 - Money Supply • Credit • Money Multipliers, E52 - Monetary Policy, E58 - Central Banks and Their Policies, G21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages, Financial system;Reserve requirements;Foreign currency;Domestic currency;IDB-WP-499;Inflation targeting;Foreign currency liabilities;Nonconventional monetary policy, |
| Online Access: | http://dx.doi.org/10.18235/0011628 https://publications.iadb.org/en/inflation-targeting-and-quantitative-tightening-effects-reserve-requirements-peru |
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