Requirements for Using Interest Rates As An Operating Target for Monetary Policy: The Case of Tunisia
IMF Working Papers, July 1, 2009
Source details
- Canonical URL
- Requirements for Using Interest Rates As An Operating Target for Monetary Policy: The Case of Tunisia
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Bibliographic details
- Authors: Alain Durré, Bernard J Laurens, Alexandre Chailloux
- Published: July 1, 2009
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451872965.001
Authors and publication metadata
- Authors: Alain Durré, Bernard J Laurens, Alexandre Chailloux
- Publication date: July 1, 2009
- Series: Working Paper No. 2009/149
- Issue: 149
- Volume: 2009
- Pages: 45
- DOI: https://doi.org/10.5089/9781451872965.001
- Stock No: WPIEA2009149
- ISBN: 9781451872965
- ISSN: 1018-5941
Core findings and argument
- The paper discusses the use of interest rates as the operating target for monetary policy in Tunisia.
- It outlines a roadmap for establishing the other building blocks of an inflation targeting framework.
- It argues that strengthening the effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time.
Major themes and policy-relevant points
- Monetary policy implementation:
- Emphasis on using interest rates as the operating target.
- Need to develop complementary building blocks for an inflation targeting framework.
- Institutional and operational requirements:
- Roadmap for establishing the necessary components to support interest-rate-based operating frameworks.
- Transitional considerations:
- Strengthening current monetary policy framework viewed as a prerequisite to facilitate eventual adoption of inflation targeting.
Subjects and keywords (as listed)
- Subjects: Banking, Exchange rates, Financial markets, Foreign exchange, Inflation, Monetary base, Monetary policy, Monetary policy instruments, Money, Money markets, Prices
- Keywords: Exchange rates, Global, gradual adjustment, Inflation, interest rate, IT framework, Middle East, Monetary base, monetary frameworks, monetary management, monetary operations, monetary policy, monetary policy decision, monetary policy implementation, Monetary policy instruments, monetary policy interest rate, monetary policy transmission mechanisms, money market interest rate, Money markets, nominal exchange rate, reaction function, WP
Source: IMF Working Papers — Requirements for Using Interest Rates As An Operating Target for Monetary Policy: The Case of Tunisia (July 1, 2009), Working Paper No. 2009/149.