The basic characteristics of Macedonian monetary policy

Abstract

The objective of this paper is to analyse the basic characteristics of Macedonian monetary policy. This paper is going to describe the concept of Macedonian monetary system and the importance of law and institutional framework in our country for the manner of operation of the monetary policy. It will consist of fourth parts. The first part of this paper will be an introduction to the framework that will explain the subject of research and that is the monetary system and the monetary policy as an important part of the financial sector in every economy, while the second part of the paper, focuses on the law and institutional framework of Macedonian monetary system. The third part of this paper analyzes the instruments of Macedonian monetary policy from its beginning until today. Finally, in the fourth part of this paper “Conclusion”, we are giving our basic conclusions that will arise from our paper.