Quarter of central banks use tiered reserves remuneration
Corridor systems remain most common method of setting short-term interest rate
Close to a quarter of central banks use tiering to set variable interest rates on reserve balances, the Monetary Policy Benchmarks show.
Ten of 41 central banks (24.4%) use tiering, which is often deployed as a means of encouraging trading in the interbank market, even where excess reserves are present. Under such a system, a portion of reserves are remunerated at the policy rate, while any reserves above a threshold or “quota” receive a different – usually lower – rate. This keeps rates
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Blackout period lasts seven days in most central banks
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
MPCs largest in inflation-targeting central banks
Government reps attend meetings in two-thirds of jurisdictions with other regimes
Monetary policy budget averages under $2 million annually
Budgets larger in high income, upper-middle income central banks