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International Settlement
The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

Bank of International Settlement

The global factor in neutral policy rates: Some implications for exchange rates, monetary policy, and policy coordination

BIS Working Papers  |  No 732  |  11 July 2018 by  Richard Clarida PDF full text (1,457kb)  |  42 pages Summary Focus Over the past 25 years, policymakers have set interest rates with reference to feedback rules based on estimates of both potential output and the real policy rate. The latter -...

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