Necessity as the mother of invention monetary policy after the crisis

6. Once conditions return to normal, do you think each of the following should
remain a potential instrument of monetary policy, remain an instrument but in modified
form, be discontinued, or that it is too early to judge? (please check one box per
policy/instrument)
(1) (2) (3) (4)
Unconventional policy or instrument:
(a) Policy rate(s) rate near zero
(b) Negative interest rates (e.g., the policy
rate or rate on deposits at the central bank)
(c) Quantitative easing using government
debt
(d) Quantitative easing using assets other
than government debt
(e) Forward guidance about future
monetary policy
(f) Macro-prudential policy*
(g) Other**
Remain an
instrument
Remain, but
in modified
form
Be
discontinued
Too
early to
judge
If so, please specify: ____________________________________________
__________________________________________________________________
** If so, please specify: ___________________________________________
__________________________________________________________________
III.
CENTRAL BANK COMMUNICATION
7. In your view, did the crisis induce the central bank to communicate with the
public more or less than it did prior to the crisis? (please check one)
much less
somewhat less
no change
somewhat more
much more
difficult to say
(continued)
53