Infocommunication Tools of Unconventional Monetary Policy

Анотація

Infocommunication is a new sphere of social-economic development, which is based on the integration of information, telecommunication and digital technologies. The unification of telecommunications and information technologies into a single industry of infocommunications is a global trend that is focused on the development of a telecommunications network and the expansion of the number of global information services on its basis. Infocommunications have an ever-increasing influence on the development of all socio-economic spheres, including the work of business, the formation of social values, and the implementation of national and supranational economic policies. In particular, when conducting state policy to overcome the consequences of global crises (this is primarily the dotcom crisis and the global financial crisis of 2008-2009), state and supranational bodies actively used infocommunication tools. New approaches have been taken to guide the course of monetary policy with the aim of improving its effectiveness with a zero level on interest rates. In a liquidity trap "Forward guidance" has become one of the main new infocommunication tools of unconventional monetary policy. As a result, it was found that the forward guidance as the infocommunication component of unconventional monetary policy helped to clarify political intentions in unusual economic circumstances. Although, it is still not possible to determine a single effective infocommunication strategy of the central bank with the public due to the variety of forward guidance forms.

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