Table 1 Monetary policy announcement classifications

Lending operations

All tools involving central banks’ lending to the private and public sectors

Interest rates

All policy rate decisions, including forward guidance, as well as decisions related to other relevant interest rates, if set independently from the main policy rate

Asset purchases

Central banks’ outright purchases of assets, including those conducted with assets of different maturity or risk profiles (i.e., operation twist and swap operations)

Foreign exchange

Tools that involve foreign currencies and/or foreign entities and changes to Foreign Currency Deposit Requirements

Reserve policy

All measures involving central bank reserves, such as changes of the requirement ratios, the compliance framework, or their remuneration