An Analysis of Monetary Policies and Effects of Major Developed Economies in the Face of COVID-19

Abstract

This research paper aims to comprehensively analyze and compare the monetary policies employed by major developed nations in the face of the novel coronavirus outbreak. By delving into these strategies, it seeks to gain a deep understanding of the actions and measures undertaken by governments and central banks in confronting the global health crisis. Furthermore, it aspires to serve as a valuable resource for informing and shaping future policy decisions. Given the uniqueness and magnitude of the current situation, governments and central banks understand that ardent and preemptive actions must be taken to mitigate the economic fallout caused by the pandemic. By leveraging monetary policy tools, such as lowering interest rates, implementing quantitative easing, and providing ample liquidity, these institutions aim to stabilize and stimulate their respective economies.By meticulously studying and comparing the monetary policies being implemented, this paper will scrutinize the efficacy and potential pitfalls of these measures. Furthermore, it will analyze the extent to which these policies may create a foundation for long-term economic recovery and resilience. Through this analysis, policymakers will be equipped with valuable insights that can inform their future decision-making processes, ensuring a well-prepared and proactive response to any future crisis.