Global Changes in Monetary Policy of Foreign Countries in 2022

Abstract

This article examines changes in monetary policy undertaken by central banks of leading economies to slow down growing financial instability. Particular attention is paid to changes in the state of monetary aggregates M1–M3 under the influence of actions taken to control the money supply. The purpose of the article is to determine trends in the monetary policy of foreign countries during the reviewed period. For this purpose, the central banks of the United States of America, China, Japan, the Eurozone, Great Britain and Poland were selected. The study demonstrated that, despite the different sizes of national economies, the attention in the policies pursued was universally paid to containing inflation rates and inflation expectations. The period of instability under consideration began in 2020 against the backdrop of the pandemic, so a set of monetary policy measures was formed before the developments of 2022.