How to Cite
Abstract
Monetary policy is the set of actions through which a central bank manages money and credit conditions to achieve macroeconomic objectives—most prominently price stability, alongside maximum sustainable employment, financial stability, and, in many economies, exchange‑rate stability. In practice, this means steering short‑term interest rates, influencing liquidity and
expectations, and ensuring the monetary and financial system transmits policy to households and firms (CFI; ECB).
References
CFI: Monetary Policy – Objectives, Tools
(https://corporatefinanceinstitute.com/resources/economics/monetary-policy/).
ECB: Monetary policy decisions and balance-sheet normalization
(https://www.ecb.europa.eu/press/pr/; https://annualreport.bankoffinland.fi/2022/...).
Federal Reserve Monetary Policy Reports and commentary
(https://www.federalreserve.gov/monetarypolicy/; Cleveland/St. Louis/Chicago Fed publications).
CRS/Brookings on Fed COVID response (https://www.congress.gov/crs-product/R46411;
https://www.brookings.edu/articles/fed-response-to-covid19/).
IMF Working Paper WP/22/229: Uzbekistan’s Transition to Inflation Targeting
(https://www.elibrary.imf.org/.../2022/229).
ADB Asian Development Outlook April 2025 – Uzbekistan
(https://www.adb.org/sites/default/files/publication/1044336/uzb-ado-april-2025.pdf)
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