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

Veronika Zagoyti
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Veronika Zagoyti: Moscow State Institute of International Relations (MGIMO University)

A chapter in Financial Markets Evolution, 2021, pp 119-128 from Palgrave Macmillan

Abstract: 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.

Keywords: Monetary policy; Inflation targeting; Central bank; Eurasian Economic Union; JEL; E52; E58 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-030-71337-9_9

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DOI: 10.1007/978-3-030-71337-9_9

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