MONETARY POLICY

KULPINSKY Serhii Vitaliiovych

Mechanisms of the monetary regulation of the state borrowing costs

The mechanisms of monetary regulation of economy through quantitative easing and central bank refinancing have been analyzed. The impact of changes in the volume of bonds in NBU portfolio on interest rates and borrowing costs has been studied. The necessity in stronger interaction of monetary and fiscal policy through more active purchases and sales of government bonds from financial market intermediaries has been emphasized.

Keywords:quantitative easing, government borrowing, government bonds, monetary policy, monetization.

KULPINSKY S. V. Mechanisms of the monetary regulation of the state borrowing costs / S. V. KULPINSKY // Фінанси України. - 2012. - № 9. - C. 116-126.