Monetary Policy

Source details

Event: Monetary Policy (MP), Session No.: ST 26.04.
Organizer: Presented by the Institute for Capacity Development.
Location: Singapore, Singapore.
Date: April 13-24, 2026 (2 weeks).
Delivery Method: In-person Training.
Primary Language: English.
Target Audience: Junior to mid-level officials from emerging markets and low-income countries interested in understanding and analyzing the conduct of monetary policy and its interaction with the rest of the economy.
Application status: Deadline passed.

Expected background: An advanced degree in economics or equivalent experience.
Technical skills: Comfortable using Microsoft Excel and Excel-based applications.
Recommended prior courses: Financial Programming and Policies (FPP) and Macroeconomic Diagnostic (MDS), face-to-face or online (strongly recommended).

Purpose: Provides a comprehensive overview of monetary policy regimes, monetary transmission mechanisms, and the role of monetary policy in macroeconomic stabilization.
Approach: Bridges theory, empirical evidence, and operational experience by illustrating optimization problems and tradeoffs involved in monetary policy decisions.
Pedagogy:
- Lectures introducing basic policy concepts.
- Hands-on workshops with a special focus on practical policy challenges in emerging market and developing economies.
- Case studies to reinforce understanding and compare policy responses to various shocks under different monetary policy regimes.
Topical coverage includes:
- Evolving monetary frameworks and central bank mandates with attention to environmental, social and governance principles.
- Recent crises that have dramatically changed the landscape in which central banks operate (beyond simple interest rate policies, with due consideration to Unconventional Monetary Policy and central bank communication).
- Recent evolution of central bank digital currencies and implications for monetary policy transmission and operations.

Upon completion, participants should be able to:
- Analyze how monetary policy decisions are made under various regimes to deliver price stability and meeting other objectives.
- Identify how these decisions are transmitted to the real economy.
- Evaluate how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks, demonstrated through a group presentation to their peers.
Central bank practitioner-specific outcomes:
- Design a sound monetary policy framework.
- Prescribe policies consistent with the framework chosen.