## Monetary Policy Implementation Tools

## Source details

**Canonical URL:** [Monetary Policy Implementation Tools](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2024/mpitce24-22)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ce/2024/mpitce24-22/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/ce/2024/mpitce24-22/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/ce/2024/mpitce24-22/bundle-manifest.json)

## Bibliographic details
- Session: CE 24.22
- Location: Kuwait City, Kuwait
- Dates: October 20-24, 2024 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Interpretation language: Arabic
- Status: Deadline passed

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### Target audience and qualifications
- Target Audience: Mid-level to senior central bank officials interested in market operations and monetary policy strategy.
- Qualifications: Participants with experience in central bank operations, financial markets, and basic knowledge of quantitative methods.

### Course logistics and identifiers
- Session No.: CE 24.22
- Location: Kuwait City, Kuwait
- Date: October 20-24, 2024 (1 week)
- Delivery Method: In-person Training
- Primary Language: English
- Interpretation Language: Arabic

### Course description — domestic liquidity forecasting
- The course presents how to use advanced forecasting techniques to estimate autonomous factors of the central bank balance sheet.
- Objective: improve the calibration of the monetary policy liquidity operations, rightsizing the reserve requirement, and/or publishing liquidity information for the market.
- Curriculum elements:
  - Incorporates recent advances in forecasting literature and international best practices.
  - Back-tests different forecasting models with various degrees of complexity.
  - Provides guidance to implement the most suitable model.
  - Faculty will deliver the software infrastructure (open source) so that the authorities can easily apply the model to their day-to-day work.

### Course description — foreign exchange intervention rules
- The course presents methods to estimate and implement foreign exchange intervention rules based on a risk approach.
- Applicable techniques:
  - For central banks operating a flexible exchange rate arrangement, intervening on the foreign exchange market with financial and price stability objectives.
  - For central banks transitioning from a fixed exchange rate arrangement to a floating exchange rate arrangement.
- The course covers the theoretical background for risk-based FX interventions, as explained in the IMF Working Paper No. 21/32 (Lafarguette and Veyrune 2021).

### Course objectives
- Use the advanced models for domestic liquidity forecasting in their day-to-day work.
- Implement an FX risk model that can be used for intervening on the FX markets via a risk-optimal approach.

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)
- [Macroeconomic Management in Resource Rich Countries (MRC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/mrcce26-44)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2024/mpitce24-22_