Negative policy interest rates and exchange rate behavior: Further results

John Thornton, Chrysovalantis Vasilakis

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11 Citations (Scopus)
24 Downloads (Pure)


Since 2012, seven central banks have sought additional monetary policy accommodation through the adoption of negative policy interest rates (NPIR). The policy resulted in a significant reduction in exchange rate volatility and weaker exchange rates in NPIR--adopter countries relative countries that did not adopt the policy.
Original languageEnglish
Pages (from-to)61-67
Number of pages7
JournalFinance Research Letters
Early online date12 Mar 2019
Publication statusPublished - Jun 2019

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