To combat Covid-19, central banks worldwide have adopted various measures. Determine whether each of the following monetary policies would decrease or increase the money supply. Circle the correct answers. (4 marks)

a.	In March of 2020, required reserve ratio was lowered by 200 basic	Decrease / Increase
points by the Bangko Sentral ng Pilipinas (the central bank of the
Philippines).
b.	Bank of Japan has been purchasing JGB (Japanese Government	Decrease / Increase
Bond) at an annual amount of JPY 80,000 billion.
c.	The Fed cut its target for the federal funds rate by a total of 1.5 percentage points at its meetings on March 3 and March 15, 2020.	Decrease / Increase
d.	On 17 Mar 2020, the State Bank of Vietnam lowered the discount	Decrease / Increase
rate by 50 bp to 3.5%.