The monetary programme (A methodological description)

Gyula Barabás () and Klára Major
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Gyula Barabás: Magyar Nemzeti Bank
Klára Major: Magyar Nemzeti Bank

No 2001/8, MNB Occasional Papers from Magyar Nemzeti Bank (Central Bank of Hungary)

Abstract: The monetary programme – constructed on a quarterly basis in the NBH – is a crucial internal product of the decision making process. The programme evaluates the development of net financing capacities of different sectors and the monetary survey and gives a financial side story about the whole economy. This paper describes the method how the program is prepared with a particular focus on the consistency between financial side and income side variables. Besides interrelations between the main items of balance of payments, financial accounts and monetary survey statistics, the paper also presents how a medium term liquidity forecast is prepared based on the projection of the central bank’s balance sheet.

Keywords: monetary survey; forecast; balance of payments; consumption; savings. (search for similar items in EconPapers)
JEL-codes: E21 E27 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2001
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