Policy transmission weak in Caucasus and central Asia – IMF
Recommendations include improved communications, and intraday and overdraft credit facilities
Structural weaknesses and limited operational independence impede monetary policy transmission in the Caucasus and central Asia, according to the International Monetary Fund.
“The transmission from policy instruments to output is insignificant,” researchers say in a departmental paper published on August 30. “The transmission from the interest rate to inflation is short-lived.”
The paper explores the region’s policy frameworks and recommends improvements. Some countries need to do more to
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