THE IMPACT OF THE POLICY RATE ON MACROECONOMIC INDICATORS: EXPERIENCE FROM ADVANCED AND EMERGING ECONOMIES
DOI:
https://doi.org/10.25806/fm-2016Статья поступила в редакцию: 21.05.2025
Статья принята к публикации: 26.06.2025
Статья опубликована: 27.06.2025
Keywords:
policy rate; monetary policy; Central Banks; аdvanced and еmerging еconomies; monetary policy transmission mechanismAbstract
This study examines the role of the central bank policy rate as the primary instrument of monetary policy in the context of contemporary economic realities. It analyzes the dynamics of policy rate usage in both advanced and emerging economies, using case studies of the United States, the Eurozone, the United Kingdom, Brazil, India, and Turkey. The author investigates the impact of policy rate changes on inflation, economic growth, and exchange rates within these specific cases, highlighting the effectiveness of timely interventions and the consequences of ignoring inflationary risks. A review of empirical studies confirms the diversity of monetary policy transmission mechanisms and underscores the importance of accounting for external factors, particularly in emerging economies. The article emphasizes that the policy rate remains a crucial regulatory tool; however, its effectiveness depends on the domestic economic structure and global conditions. The analysis demonstrates the necessity of considering structural factors and the timely adaptation of monetary policy.
Информация о публикации
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Правообладатель: Издательский дом «Академический».
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