Monetary Policy Benchmarks 2021 report – executive summary

Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations

Monetary policy has long been the domain of central banks. Many monetary policy frameworks have been in place for decades, and they tend to be backed by extensive research and well-established operational routines.

But the field is also undergoing a steady process of change, driven by the evolution of economic theory and a certain amount of trial and error as central banks implement policy. A growing number of central banks have been conducting reviews to assess whether frameworks are fit for

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