Развитие коммуникации как инструмента монетарной политики

Abstract

Modern monetary policy implemented by central banks requires understanding and openness. This is largely due to the transition of central banks to an inflation targeting regime, which is implemented through ensuring transparency and openness of their activities. Understanding and openness of monetary policy are closely interrelated, and the implementation of its openness is focused on the use of such a tool as communication. It is communication as a monetary policy tool that will be able to form a unified basis for ensuring the interconnection of understanding, transparency and openness of the central bank’s monetary policy. Communication will also help increase confidence of both the expert community and the general public in the modern central bank’s activities. Both foreign and Russian economists have paid considerable attention to the development and use of communication within the framework of monetary policy in their research, but, despite this, the stages of its development have not yet been identified and justified. The authors’ use of a systematic approach, as well as logical and situational analysis, in the process of writing the article contributed to the structuring of economic research previously conducted in this area. When studying this topic, the very concept of communication as a central bank’s monetary policy tool was clarified, based on the approaches of foreign and russian economists. The study showed that communication has gone through a long period (certain stages) of its development, from anti-communication to multi-level communication. Modern digital technologies allow central banks to directly and purposefully communicate not only with experts, but also with the general public, actively using communications. The result of the authors’ study of the development of communication as a monetary policy tool was the identification and justification of the stages of its development, the determination of their specifics and key characteristics. The authors of the article also identified the main directions for the development of communication as the central bank’s monetary policy tool, justifying its potential for development.