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Our monetary policy research

Our monetary policy research is centered around 6 themes.

Our research themes

These themes are designed to help us inform policy advice with up-to-date data, models and theories.

Forecasting and modelling

Our monetary policy advice needs to be informed by best-practice forecasting, empirical tools, and quantitative models.

Tools, transmission, and communication

We work to understand the cyclical and structural aspects of our tools and their transmission so we can provide sound monetary policy advice and retain public confidence.

Small open economy macroeconomics

We work to understand how exogenous shocks from global developments are transmitted to and through our economy, and how this affects monetary policy settings.


To meet our mandate we work to understand the dynamics of inflation including the different measures and expectations, the impact of inflation on welfare, and what causes inflation in the long run.

Maximum sustainable employment

To meet our mandate we work to understand the drivers of maximum sustainable employment, the dynamics of our labour market, and the effects of unemployment.

Monetary policy framework, strategy, and coordination

We work to understand our monetary policy targets, what level they should be set at, and how to respond to supply shocks so we can be better prepared for issues that will affect monetary policy in the future.