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.
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Notes
- 1.
TONIA (Tenge OverNight Index Average) is a weighted average interest rate on REPO opening transactions on the Kazakhstan stock exchange for one business day.
References
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Zagoyti, V. (2021). Monetary Policy: Global Trends and the Development of Bank of Russia’s Approaches. In: Panova, G. (eds) Financial Markets Evolution. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-71337-9_9
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DOI: https://doi.org/10.1007/978-3-030-71337-9_9
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