أثر التنسيق بين السياسة النقدية و سياسات الاحتراز الكلي على تحقيق الاستقرار النقدي و الاستقرار المالي

Abstract EN

This study aims to determine the impact of coordination between monetary policy and macroprudential policies, as Article 35/2 of Ordinance 04-10 amending and supplementing Ordinance 03-11 related to money and credit showed a new challenge, which is the ability of monetary policy and macroprudence policies to achieve financial stability.

Besides monetary stability; However, their goals may conflict.

There has become a growing awareness of the inadequacy of monetary policy in achieving financial stability, as it requires supervisory and regulatory authorities to adopt a macroprudential approach in order to achieve the stability of the financial system.

Where we concluded that the order 10-04, of 26/08/2010, and especially Article 35/2 made the Bank of Algeria follow up on achieving financial stability as a new objective of monetary policy in addition to monetary stability, but we concluded that this requires the creation of an independent body that monitors financial stability and is Coordination with them to prevent conflicting objectives.