By: Chiara Colesanti Senni

Central banks are making increasing use of targeted refinancing operations to pursue their mandates. However, so far none of them, with a few exceptions in developing economies, has aligned its targeting with the objective of a transition to a low-carbon economy. This must change.

Refinancing operations are a core monetary policy tool to provide liquidity to credit institutions. Whereas traditionally such operations have all been short-term, many central banks extended their maturity in response to the last financial crisis. …

Council on Economic Policies

CEP is an international nonprofit nonpartisan economic policy think tank for sustainability.

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