Monetary Policy Benchmarks 2024 – executive summary
Key findings from the benchmark on policy tools, liquidity facilities, transparency and more
In many respects, monetary conditions worldwide are stabilising. Inflation is coming down, albeit with some delay in reaching the target in many jurisdictions. Supply disruptions have eased. Crisis fighting is limited to a few jurisdictions facing unique pressures – notably wars – rather than being a worldwide phenomenon.
This stabilisation is reflected in the Monetary Policy Benchmarks 2024. The share of central banks with asset purchase programmes (APPs) has come down from its pandemic-era
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Quarter of central banks use tiered reserves remuneration
Corridor systems remain most common method of setting short-term interest rate
Minutes released with greatest lag in lower-middle income countries
Blackout period lasts seven days in most central banks
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
MPCs largest in inflation-targeting central banks
Government reps attend meetings in two-thirds of jurisdictions with other regimes