TRANSPARENCY OF MONETARY POLICY OF BANKS - VIOLETTA KAŁUZIŃSKA

The book "Transparency of Monetary Policy of Banks" by Violetta Kałuzińska is an in-depth analysis of the role of transparency in monetary policy, which has been gaining importance since the 1990s. The author examines how the central banks of Central European countries adapt to the requirements of democracy and the growing role of financial markets, as well as how they take into account the expectations of market participants in the mechanism of transmitting monetary impulses to the real economy.

• Comparative analysis of the institutional transparency of central banks.
• Assessment of the degree of transparency of monetary policy at various stages of the decision-making process.
• Examination of initiatives taken to increase behavioral transparency.
• Characteristics of central banks in Poland, the Czech Republic, Slovakia, Hungary and Romania.
• Use of an index created by P. Geraats and S. Eijffinger.
• Analysis of the evolution of institutional transparency standards.
• Increasing importance of transparency in monetary policy since the 1990s.

The author uses an index created by P. Geraats and S. Eijffinger to conduct a comparative analysis of the institutional transparency of five Central European central banks and the central banks of New Zealand, Great Britain and Sweden. The degree of transparency of monetary policy at each of the distinguished stages of the decision-making process and its changes over time are assessed. The analysis is preceded by a brief description of the central banks in each of the countries discussed - the way monetary policy is conducted provides the background for the analysis of the observed changes in the transparency indicator.

This book is particularly important for economists, economics students, financial analysts and anyone interested in monetary policy and its impact on the economy. This publication makes it possible to understand what efforts the central banks of Poland, the Czech Republic, Slovakia, Hungary and Romania are making to meet the challenge of increasing the transparency of their activities, as well as about the nature and types of transparency.

Violetta Kałuzińska, the author of the publication, is an expert in the field of monetary policy and central banking. Her work is a valuable source of knowledge about the role of transparency in shaping monetary policy and its impact on financial and economic stability. This book is a must-read for anyone who wants to understand the mechanisms of central banks and their role in the modern economy.

This publication discusses why it is so important from the point of view of the effectiveness of the implementation of monetary policy that both sides of communication are characterized by "uniformity of understanding", and what efforts the central banks of Poland, the Czech Republic, Slovakia, Hungary and Romania are making to meet the challenge of increasing the transparency of their activities, as well as about the nature and types of transparency.