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Is there a limit to policy rate hikes?
When a central bank loosens its monetary policy, there is an (almost) absolute limit to the reduction in policy rates: zero. Many countries tested this lower bound after the financial crisis of 2008, and some were obliged to invent new intervention tools, such as asset purchase programmes. Conversely, when a central bank has to respond to an inflation shock, is there a limit to raising policy rates? Several answers are possible. Firstly, rate hikes must be halted if inflation has...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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