Monetary Policy Principles and Practice
The links below open a sequence of short notes on the principles of sound monetary policy and central banks' practices in setting and implementing monetary policy. The notes are intended to be read in order. The references cited in the footnotes provide additional detail.
Monetary Policy: What Are Its Goals? How Does It Work?
Historical Approaches to Monetary Policy
Principles for the Conduct of Monetary Policy
Policy Rules and How Policymakers Use Them
Challenges Associated with Using Rules to Make Monetary Policy
Last Update: March 08, 2018