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[Understanding how fast and to what extent changes in the central bank’s policy instruments affect aggregate demand and inflation through their influence on investment and consumption decisions of firms, households, and financial intermediaries. Monetary Policy of Rwanda is an effective and...
[Monetary policy in Rwanda has undergone profound changes since the establishment of the National Bank of Rwanda (NBR) in 1964. For a period of 26 years, the NBR conducted direct monetary control in the absence of a money market. In 1990, the bank shifted to the use of indirect monetary policy...
[Over the past few decades, policymakers in different countries have become increasingly aware of socio-economic costs of inflation leading central banks to adopt price stability as a goal of monetary policy.]
[Monetary policy plays a fundamental role in price stability, which is a precondition for sustainable output growth and employment over the long run and is also a powerful tool in influencing economic activity in short term through several transmission channels.]
[Central banks’ communication journey has evolved from an era of mystery to an era of transparency, openness, and accountability, leading monetary policy communication to become a distinct tool for monetary policy implementation.]
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