ARCHIVES
VOL. 3, ISSUE 1 (2021)
Role of central banks during the Pandemic Crisis
Authors
Dr. Sharmila Ahlawat
Abstract
The COVID-19 pandemic
triggered the most severe and synchronised global economic shock since the
Great Depression, compelling central banks worldwide to respond with
unprecedented speed and scale. This paper examines the monetary policy actions
taken by major central banks — including the US Federal Reserve, the European
Central Bank, the Bank of England, the Bank of Japan, the Reserve Bank of
India, and several emerging market counterparts — between early 2020 and fiscal
year 2020–21. The study analyses conventional and unconventional policy tools
deployed, the scale of balance sheet expansion, liquidity support measures, and
coordination with fiscal authorities. Evidence shows that central bank
interventions successfully averted financial market meltdown, maintained credit
flow, and supported aggregate demand, but also raised important long-term
questions about inflation, financial stability, exit strategies, and central
bank independence.
Download
Pages:39-43
How to cite this article:
Dr. Sharmila Ahlawat "Role of central banks during the Pandemic Crisis". International Journal of Finance and Commerce, Vol 3, Issue 1, 2021, Pages 39-43
Download Author Certificate
Please enter the email address corresponding to this article submission to download your certificate.