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ANALYSIS OF THE MAIN DIRECTIONS OF THE MONETARY POLICY OF THE EUROPEAN CENTRAL BANK AT THE PRESENT STAGE
Proskurin Vasily Nikolaevich
Plekhanov Russian University of Economics
4th year undergraduate Finance Department
Plekhanov Russian University of Economics
4th year undergraduate Finance Department
Abstract
The article discusses the main instruments of monetary policy by the European Central Bank in the period from 2014 to the first half of 2016. Notes the particular role of the ECB in ensuring price stability and financial stability throughout the Euro area. Special attention is paid to the transition of the European Central Bank to unconventional monetary policy and the functioning of the new instruments in view of the appearance in the economy of the processes of deflation and stagnation.
Keywords: asset-backed (APP), deflation, European Central Bank, inflation, monetary aggregates, monetary policy, purchases of bonds, quantitative easing (QE), the harmonized index of consumer prices (HICP), the target long-term refinancing operations (TLTRO)
Category: 08.00.00 Economics
Article reference:
Analysis of the main directions of the monetary policy of the European central bank at the present stage // Modern scientific researches and innovations. 2016. № 11 [Electronic journal]. URL: https://web.snauka.ru/en/issues/2016/11/74030
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