| Autor: Lech Próchnicki | 91 |
Strony: 91-115
pełen tekst
MONETARY POLICY OF POLAND IN THE SPOT LIGHT OF DIRECT INFLATION TARGET
Summary
The paper presents the Polish monetary policy in the era of direct inflation targeting, presents the ways and means of implementation. Against this background the assessment of effectiveness of the policy is introduced. This policy, through appropriately and competently administered restrictive-ness, led years later for bringing the inflation under control; as an inflation decreased, also a restrictive-ness of the policy decreased, what increasingly created better conditions to conduct the fiscal policy. Thanks to the tight policy Poland avoided the perturbation of credit market (crisis on the money market) and a comfortable state was achieved: besides the fighting against inflation the central bank in one’s moves – without any harmful effects for the main purpose – is starting more and more caring about the economic growth.
pełen tekstMONETARY POLICY OF POLAND IN THE SPOT LIGHT OF DIRECT INFLATION TARGET
Summary
The paper presents the Polish monetary policy in the era of direct inflation targeting, presents the ways and means of implementation. Against this background the assessment of effectiveness of the policy is introduced. This policy, through appropriately and competently administered restrictive-ness, led years later for bringing the inflation under control; as an inflation decreased, also a restrictive-ness of the policy decreased, what increasingly created better conditions to conduct the fiscal policy. Thanks to the tight policy Poland avoided the perturbation of credit market (crisis on the money market) and a comfortable state was achieved: besides the fighting against inflation the central bank in one’s moves – without any harmful effects for the main purpose – is starting more and more caring about the economic growth.