Features of Interest Rate Policy Under the Inflation Targeting Regime

Особенности процентной политики при режиме таргетирования инфляции

Anna Kiyutsevskaya and Pavel Trunin

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: For inflation targeting central banks interest rate policy is the main way to achieve the ultimate goal of monetary policy and to influence the economy. However, despite the fact that in most cases the operational goal is to achieve a certain level of short-term money market rates, the features of the operational mechanism are determined by the characteristics of the domestic economy and the global economy as a whole. Moreover, instruments of interest-rate policy available for inflation-targeting central banks are used to solve a wide range of problems, including exchange rate dynamics and capital flow control.

Pages: 84 pages
Date: 2018-03
New Economics Papers: this item is included in nep-mac and nep-mon
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