On Improving the Effectiveness of Monetary Policy (in Connection with the Appearance of the Draft «Main Directions of the Unified State Monetary Policy for 2020 and the Period 2021 and 2022» of the Bank of Russia)

In: Russian Economic Journal, Heft 6, S. 26-33

Abstract

The combination of fundamentally new external and internal challenges to the Russian economy predetermines the need for changes in economic policy, including monetary policy. In this context, the article analyzes the draft «Main directions of the unified state monetary policy for 2020 and the period 2021 and 2022», developed and published by the Bank of Russia. The authors substantiate a number of measures, either alternative to the planned financial regulator, or complementary to them.