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Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Nazim Belhocine, Ernesto Crivelli, Nan Geng, Johannes Wiegand




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 |  2016-11-29 |  2016-11-29 | File type: PDF

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The demands on monetary and exchange rate regimes in CESEE have evolved, in line with the region’s development. In the 1990s, the immediate challenge was to rein in excessive inflation following transition, and to establish basic monetary order. These objectives have been achieved, owing largely to successful exchange rate–based stabilization. With this accomplished, the focus has shifted to cyclical monetary management, and to appropriately managing monetary...

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