The Liquidity Management of the Banking Sector and the Short-Term Money Market Interest Rates

Управление ликвидностью банковского сектора и краткосрочной процентной ставкой денежного рынка

Vyacheslav Morgunov

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

Abstract: In the modern world the most common method of monetary policy implementation is to control short-term money market interest rates. This paper discusses methodological and theoretical foundations of such policy, its instruments and procedures. The focus is on the method of monetary policy, that is called a symmetric interest rate corridor. The author investigates the role of open market operations and standing facilities, analyses the problem of forecasting the liquidity needs of the banking sector. The experience of the Bank of Russia in the management of short-term money market interest rates is analyzed on the base of modern theoretical concepts.

Keywords: monetary policy; short-term interest rates; money market; symmetric interest rate corridor (search for similar items in EconPapers)
Pages: 103 pages
Date: 2016-03-21
New Economics Papers: this item is included in nep-cis, nep-mon and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:wpaper:21311

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