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US Dollar Share of Global Foreign Exchange Reserves Drops to 25-Year Low
The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange…
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What to do When Low-for-Long Interest Rates are Lower and for Longer
Central banks have played a pivotal role in easing financial conditions in response to the COVID-19 shock, and helped avert a catastrophic downturn. However, their work is far from done. Yet more monetary…
