Suchergebnisse

Abstract
Since the 1990s there have been major changes in the way monetary policy is conducted. Since other monetary strategies did not result in the desired outcome, the first concept of inflation targeting was presented in New Zealand (1990), then in Canada (1991), England (1992), Sweden and Finland (1993), Australia and Spain (1994), Israel, Chile, Brasil, the Czech Republic, Poland, Hungary, Serbia and other countries. Thus, the application of this monetary regime has spread from economically developed to developing countries. This article examines the adoption, the formal framework for inflation targeting and the experience of the two countries that were leaders in the adoption of this modern strategy, New Zealand and Canada. At the time of the announcement of the inflation targets, inflation in both countries was around 6%. However, there are differences regarding the time frame. So, in New Zealand in a shorter period of time, credibility should have been achieved regarding the imbalance of monetary and fiscal policy. While, on the other hand, a longer time frame is envisaged for the Central Bank of Canada regarding achieving greater flexibility to mitigate price shocks. After all the above, it can be concluded that both observed countries (Canada and New Zealand) during the period 2008-2017, achieved positive effects from inflation targeting. In this sense inflation rates in the target range of 1-3% were achieved, except for a few years after the financial crisis (2008-2011), but after certain revisions of the formal framework, both countries successfully fought for greater economic growth and financial stability. The inflation targeting regime proved to be very successful in achieving the set targets, so both Central Banks continued to constantly update the formal and informal inflation targeting frameworks, in order to continuously achieve the expected effects.

Abstract
CRM (Consumer Relationship Management) is a recent concept. Development and introduction of this concept in the banking operations started in the '90s. Due to complex market conditions and the current environment in which banks operate, it is necessary to have a new method for doing business, which will provide quick and efficient recognition of clients. This business concept entirely replaces the traditional operating methods of the bank, where the focus is on clients, their needs, and wishes. The CRM concept enables the bank to respond to the individualized demands of the clients with quality banking products and services. With this, the banks manage to deal with the tough competition and make a profit. The goal of this paper is to examine the importance, development, and implementation of the CRM in the banks. The paper tries to prove the hypothesis: Introduction of the CRM philosophy in the banking operations leads to increased profitability of the bank.