IMF Staff Country Reports

Republic of Belarus: Technical Assistance Report-Enhancing Monetary Policy Modeling Capacity, Monetary Policy Implementation, and the Forecasting and Policy Analysis System

Publication Date:

June 29, 2020

Electronic Access:

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Summary:

The NBRB has made substantial progress in improving its forecasting and policy analysis system (FPAS) and integrating it into monetary policy decision-making. The FPAS, and the model-based forecasts and policy analysis, is now well integrated into the policy-making process. Staff are well trained and have become experienced in using the tools developed for policy analysis and forecasting. The forecasting and decision-making process is well structured and has helped increase the two-way interaction between staff and the NBRB board—additional and less formal interaction between staff and board members in between the formal meetings may help enhance the process further.

Series:

Country Report No. 2020/209

Subject:

Banking Central bank policy rate Central banks Financial markets Financial services Inflation targeting Interbank markets Interbank rates Monetary policy Open market operations

Frequency:

regular