Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks write by Nils Mæhle. This book was released on 2020-02-07. Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks available in PDF, EPUB and Kindle. This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be the daily operating target, including for countries relying on a money targeting policy strategy. The paper discusses how a policy formulation framework based on monetary aggregates can be combined with an operational framework that ensures more stable and predictable short-term rates to enhance policy transmission. It also discusses how to best configure an interest-rate-based operational framework when markets are underdeveloped and liqudity management capacity is weak.
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences write by International Monetary Fund. This book was released on 2015-10-27. Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences available in PDF, EPUB and Kindle. This background paper focuses on the experiences of evolving monetary policy frameworks in nine individual countries and three thematic groupings of countries. The country case studies are complemented by analyses of common issues faced by countries in currency unions in the CFA franc zone, selected resource rich countries, and advanced economies and emerging markets during their modernization process of monetary policy regimes. Finally, the background paper also contains a discussion on the benefits of effective communication in conducting monetary policy.
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries write by International Monetary Fund. This book was released on 2015-10-23. Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries available in PDF, EPUB and Kindle. Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Conditionality in Evolving Monetary Policy Regimes
Conditionality in Evolving Monetary Policy Regimes - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Conditionality in Evolving Monetary Policy Regimes write by International Monetary Fund. This book was released on 2014-05-03. Conditionality in Evolving Monetary Policy Regimes available in PDF, EPUB and Kindle. With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Monetary Policy Implementation
Monetary Policy Implementation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy Implementation write by Mr.Rodolfo Maino. This book was released on 2007-01-01. Monetary Policy Implementation available in PDF, EPUB and Kindle. Since the early 1990s, the IMF has been advising countries to shift to the use of indirect instruments for executing monetary policy. This paper provides information about a monetary policy instruments database, maintained by the Monetary and Capital Markets Department of the IMF. We offer an overview of the information contained in the database in the form of comparative summary tables and graphs to illustrate the use of monetary policy instruments by groups of countries (developing, emerging market and developed countries). The main trend that can be identified from the database information is the increasing reliance on money market operations for monetary policy implementation. We emphasize the relevance and usefulness of the data collected through periodic surveys of central banks, for general descriptive and analytical purposes.
