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DTSTAMP:20260505T172126Z
DTSTART;VALUE=DATE:20251117
DTEND;VALUE=DATE:20251121
SUMMARY:Monetary policy instruments and implementation
TRANSP:TRANSPARENT
UID:2025_11_17_monetary_policy_instruments_940510
DESCRIPTION:Duration\n\n5 days\n\nDeadline for application\n\n5 September
  2025\n\nObjective\n\nThe implementation of monetary policy requires bot
 h well-defined goals and a consistent set of policy instruments in order
  to achieve them. This course will begin by placing the central bank’s m
 onetary policy operations in the context of broader monetary policy stra
 tegy\, emphasising the link between policy formulation and implementatio
 n. It will touch upon monetary policy objectives and instruments and the
  functioning of the monetary policy transmission mechanism. The focus wi
 ll be on the practicalities of implementing monetary policy\, including 
 liquidity management\, refinancing operations\, monitoring of monetary p
 olicy counterparties and monetary policy asset purchases. The course wil
 l also provide an introduction into market intelligence at the Deutsche 
 Bundesbank and conclude with current challenges\, such as greening the f
 inancial system. Whilst our specialists will primarily report on practic
 es within the Eurosystem\, participants of this course will also be enco
 uraged to actively engage with each other and\, where appropriate\, prep
 are presentations in workshops and exercises to provide insights into th
 e respective frameworks of their own countries.\n\nContent\nMonetary pol
 icy mandate\, strategy\, operational framework\nMonetary policy instrume
 nts and their design\nLiquidity analysis\nMonetary policy refinancing op
 erations in practice\nMonitoring of monetary policy counterparties and E
 urosystem’s ELA framework\nMonetary policy purchase programmes in practi
 ce and current challenges\nMarket intelligence\nGreening the financial s
 ystem and other current challenges\n\nTarget group\n\nJunior to mid-leve
 l central bank officials working in monetary policy operations and offic
 ials from central banks or ministries of finance/economics whose respons
 ibilities require a thorough understanding of monetary policy implementa
 tion\, or where there is a strong interest in acquiring such knowledge. 
 Participants are required to actively contribute to the course and\, whe
 re appropriate\, to prepare a presentation in order to share insights in
 to the monetary policy operational frameworks of their own respective co
 untries.\n\nPlease note\n\nA nominating person is mandatory for the part
 icipation in our in-person courses.
LOCATION:Frankfurt/Main
CONTACT:Deutsche Bundesbank – CIC\, tzk@bundesbank.de\, +49 69 9566-36605
 
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