Global Central Banks #primers

In these clips, we'll explain each major global central bank, its respective mandate, and some unique tools that it has used exclusively:

> The relationship between central banks
> European Central Bank (ECB)
> Bank of Japan (BoJ)
> People's Bank of China (PBoC)
> Case Studies:
> "Whatever it takes!"
> Yield Curve Control (YCC)
> RMB Depreciation
> BoE 2022 Pension Crisis/gilt intervention

For those who prefer text, here is the slideshow PDF. In addition, all of this is available as text in Central Banking 101.

Additional Readings:
• “A Primer on Negative Interest Rates.” FRB St. Louis blog.
• "Raising the Inflation Target: Lessons from Japan.” FEDS Note.
• “Japan’s Experience with Yield Curve Control.” FRBNY Liberty Street Economics blog.
• “China's Rising Holdings of U.S. Agency Bonds.” Council of Foreign Relations.
• “What is Yield Curve Control?” FRB St. Louis blog.
• “Review of the Yield Target.” Reserve Bank of Australia
• “The Fed - Raising the Inflation Target: Lessons from Japan.” FEDS Note.
• “The European Sovereign Debt Crisis.” Phillip Lane, Journal of Economic Perspectives.
• “China’s Monetary Policy: Practice & Rationale.” Presentation by PBOC Governor Yi Gang. April 2023, Peterson Institute.