Monetary policy is the control that a country’s central bank exercises over the money supply or a short-term interest rate, to influence key macroeconomic variables such as the rate of growth or inflation. Along with fiscal policy, it is the most important policy for achieving macroeconomic stability. These results are very important for citizens, which justifies the ethical relevance of this policy.

The Design of Monetary Policy

The design of monetary policy has changed over time, according to circumstances, progress of economics, and political and social preferences. To understand monetary policy, it is important to first examine the theory and practice of monetary policy as they existed prior to the financial crisis that began in 2008 and then the “unconventional” monetary policy concepts that have been implemented ...

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