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InstitutC.D. HOWEeBriefIn stituteTrusted Policy Intelligence | Conseils de politiques dignes de confianceJune 22, 2021 MONETARY POLICYMission Creep and Monetary Policy byJohn MurrayThe Bank of Canada
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Monetary policy decision making refers to the process by which a central bank or monetary authority formulates policies to manage the money supply, interest rates, and inflation in order to achieve macroeconomic objectives such as stable prices, full employment, and economic growth.
Typically, central banks and monetary authorities are required to file monetary policy decision making, as they are responsible for implementing the policy decisions that affect the economy.
Filling out monetary policy decision making involves documenting the rationale behind policy decisions, outlining the specific measures to be implemented, and providing projections and analyses regarding their expected impact on the economy.
The purpose of monetary policy decision making is to guide the economy towards desired outcomes such as controlling inflation, stabilizing the currency, fostering a stable financial environment, and promoting economic growth and employment.
Information that must be reported includes the objectives of the monetary policy, the current economic conditions, the decision-making process and criteria used, as well as the expected effects of the implemented policies on inflation, interest rates, and overall economic activity.
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