Monetary Policy Formulation and Implementation

1 June to 12 June
Kigali -Rwanda
15 June to 26 June

Monetary policy to promote a country’s objectives of maximum employment of resources, stable prices, and moderate long-term interest rates. The challenge for policy makers is that tensions among the goals can arise in the short run and that information about the economy becomes available only with a lag and may be market imperfections.

When prices are stable and believed likely to remain so, the prices of goods, services, materials, and labour are undistorted by inflation and serve as clearer signals and guides to the efficient allocation of resources and thus contribute to higher standards of living. Moreover, stable prices foster saving and capital formation, because when the risk of erosion of asset values resulting from inflation and the need to guard against such losses are minimized, households are encouraged to save more and businesses are encouraged to invest more.

Many Central banks has made great strides in modernizing monetary policy frameworks but effectiveness is diminished as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to money in Bank’s monetary strategy and enhancing the role of interest rates in conduct. Monetary Policy Formulation and Implementation advocate adoption of an eclectic strategy involving the monitoring of several indicators, and of a short-term interest rate as the operational target, granting discretion to changes policy rate without technical obstacles in the near future.

Target Audience: 

This training Programme is designed for bankers, Senior and Middle Management positions in the financial sector, including line management who deal with monetary policy instruments to achieve organizational goals. Professionals in Executive positions in Governments, and Non-Governmental Organisations, Accounting and Finance, Strategic leadership and Corporate Governance all need to attend this course