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Monetary Policy: Global Trends and the Development of Bank of Russia’s Approaches

In: Financial Markets Evolution

Author

Listed:
  • Veronika Zagoyti

    (Moscow State Institute of International Relations (MGIMO University))

Abstract

The chapter discusses current global trends in monetary policy, including the expansion of the inflation targeting regime and a loose monetary policy amidst the COVID-19 pandemic. Mostly, it focuses on the experience of Russia, as well as that of other Eurasian Economic Union (EEU) member countries, in the context of forming a single monetary policy. Based on the results of this article the author argues that it is possible to form a single monetary policy within the EEU in the long term, provided that a number of the following conditions are met: introducing a single medium-term target for inflation, implementing a single exchange rate policy and coordinating the monetary policy of the EEU countries at the supranational level.

Suggested Citation

  • Veronika Zagoyti, 2021. "Monetary Policy: Global Trends and the Development of Bank of Russia’s Approaches," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Galina Panova (ed.), Financial Markets Evolution, edition 1, pages 119-128, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-71337-9_9
    DOI: 10.1007/978-3-030-71337-9_9
    as

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    More about this item

    Keywords

    Monetary policy; Inflation targeting; Central bank; Eurasian Economic Union; JEL; E52; E58;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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