Monetary Policy Implementation: Results from a Survey

Author/Editor:

Inese Buzeneca ; Rodolfo Maino

Publication Date:

January 1, 2007

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Since the early 1990s, the IMF has been advising countries to shift to the use of indirect instruments for executing monetary policy. This paper provides information about a monetary policy instruments database, maintained by the Monetary and Capital Markets Department of the IMF. We offer an overview of the information contained in the database in the form of comparative summary tables and graphs to illustrate the use of monetary policy instruments by groups of countries (developing, emerging market and developed countries). The main trend that can be identified from the database information is the increasing reliance on money market operations for monetary policy implementation. We emphasize the relevance and usefulness of the data collected through periodic surveys of central banks, for general descriptive and analytical purposes.

Series:

Working Paper No. 2007/007

Subject:

Banking Government securities Monetary policy instruments Reserve requirements Standing facilities

English

Publication Date:

January 1, 2007

ISBN/ISSN:

9781451865714/1018-5941

Stock No:

WPIEA2007007

Pages:

41

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