Issue: №9, 2019
The article investigates the choice of a monetary regime, its correct and effective application, analysis of possible consequences, because effective monetary policy of the state is one of the main instruments of influence on financial imbalances in the national economy. Ideally, monetary policy is designed to ensure price stability, full employment and economic growth – its ultimate goals. However, in practice, with its help, it is necessary to solve more narrow tasks, corresponding to the priority needs of the country's economy. The article examines the target guidelines for monetary policy in the field of macroeconomic stability. Monetary policy is extremely powerful, and therefore extremely dangerous tool. With its help it is possible to come out of the crisis, but it is not excluded and a sad alternative – the strengthening of negative trends in the economy. Only very well-considered decisions taken at the highest level after in-depth analysis of the situation, consideration of alternative ways of influencing monetary policy on the state economy will yield positive results. Without a well-balanced monetary policy, the economy can not function effectively. That is why recently, in most developed economies, monetary policy is considered as the main means of macroeconomic stabilization. The evolution of the monetary policy mechanism takes place in parallel with the development of methods and approaches of state regulation of the economy. One of the significant changes in monetary policy was the transition from short-term to medium and long-term effects on the goal of regulation. A few months of monetary instruments do not allow timely response to fleeting economic shocks. Therefore, in order to overcome the intermittent inconsistencies of the executive, one should focus on the long-term tasks of monetary policy, which are not subject to market fluctuations. It is about the allocation of the monetary policy of the priority long-term component – the monetary strategy, which the fundamental publication of the European Central Bank "The monetary policy of the ECB 2004" treats as a general approach to the behavior of monetary policy. References 1. Strategy of inflation targeting in the monetary policy of the state: monograph / M.I. Makarenko et.al. Sumy: DBS "UABS NBU", 2008. 108 p. (in Ukrainian). 2. The monetary policy of the ECB 2004. Frankfurt am Main: ECB, 2004. 167 p. 3. Malkina M.Yu. Monetary Economics: tutorial. Nizhniy Novgorod: Nizhniy Novgorod State University, 2010. 78 p. (in Russian). 4. Ostroverkh L.L. Investigation of the causes of inflationary upheaval in society. Economics. Finances. Law. 2018. № 2/2. pp. 31-36. (in Ukrainian). 5. Debelle Guy. Inflation Targeting in Practice. IMF Working Paper, 1997. WP/97/35. 6. Petryk O., Nikolaichuk S. Theoretical and conceptual foundations of inflation targeting. Banking. 2009. № 2. pp. 3-12. (in Ukrainian). 7. Green John H. Inflation Targeting: Theory and Policy Implications. IMF Working Paper, 1996. WP/96/65. 8. Malkina M.Yu. Inflation and Management of Inflation Processes in the Russian and Foreign Economies: monograph. Nizhniy Novgorod: Publishing House of Nizhny Novgorod State University after N.I. Lobachevskiy, 2006. 330 p. (in Russian). 9. Koryshchenko K.N. General features of inflation targeting in developed countries. Economic sciences. 2003. № 5. (in Russian). 10. Levchenko D.V. On the targeting of inflation. Money and credit. 2001. № 10. P. 34. (in Russian). 11. Glazyev S.Yu. Critical Remarks on Fundamental Questions of Monetary Policy. Issues of Economics. 1999. № 2. P. 47. (in Russian). 12. Goleva N.I., Ermakova S.I. Monitoring of economic conjuncture on the basis of Russian enterprises. Money and credit. 1999. № 2; (in Russian). 13. Stepanov Yu.V. Issues of organization of monitoring of enterprises in the Bank of Russia. Money and credit. 1999. № 2. (in Russian).
Keywords : monetary strategy, monetary mode of targeting, target benchmarks, national economy, financial imbalances, economic stability, monetary authority, monetary policy