... Reserve Bank of Australia, the Bank of Canada, the Bank of England, the European Central Bank, the Bank of Japan, the Reserve Bank of New Zealand, Norges Bank, and the Riksbank. Each case study reviews ... of Monetary Affairs) and Spence Hilton (Federal Reserve Bank of New York), as well as from central bank colleagues at the Reserve Bank of Australia, the Bank of Canada, the Bank of England, the ... for balances may not be precisely equal to the increase in policy rates, but as long as the demand for central bank balances increases at all, the need to reduce central bank balances to achieve...