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Interest rates in decentralised finance
[Les taux d’intérêt dans la finance décentralisée]

Author

Listed:
  • Jean Barthélemy
  • Clément Delaneau
  • Thomas Martignon
  • Benoît Nguyen
  • Marten Riho Pallum
  • Salim Talout Zitan

Abstract

Interest rates on decentralised finance (DeFI) loan and deposit platforms are volatile and appear surprisingly disconnected from interest rates in traditional finance. This blog post explains how these rates are determined and through which channels monetary policy can influence them. Les taux d’intérêt sur les plateformes de prêts et de dépôts de la finance décentralisée (DeFi) sont volatils et apparaissent étonnamment déconnectés des taux d’intérêt de la finance traditionnelle. Ce billet explique comment ces taux sont déterminés et par quels canaux la politique monétaire peut les influencer.

Suggested Citation

  • Jean Barthélemy & Clément Delaneau & Thomas Martignon & Benoît Nguyen & Marten Riho Pallum & Salim Talout Zitan, . "Interest rates in decentralised finance [Les taux d’intérêt dans la finance décentralisée]," Eco Notepad (in progress), Banque de France.
    • Handle: RePEc:bfr:econot:352
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