The optimal monetary rules should help to economic agents to fortify their anticipation about monetary policy. At the same time they should make application of monetary policy by central bank more effective. Consequently, numerous central banks as well as other economic agents try to determinate...

The eastward enlargement of the Euro area entails significant implications for the accession candidates in Central and Eastern Europe (CEE), the existing Euro system and the monetary policy of the European Central Bank (ECB). The present analysis assesses the challenges and critical aspects in...

Central bank can apply different kinds of monetary strategies. This paper analyses monetary strategy from the perspective of intermediate objectives. Right strategy should help to fulfil targeted goals. However, it is not easy to choose right strategy in right moment under certain economic...