Acta Universitatis Danubius. Œconomica, Vol 14, No 1 (2018)

Abstract

The post-crisis challenges for central banks are the effect of deeper imbalances reflected both by the severity of the recession period after the global financial crisis and the subsequent persistently anaemic recovery, and by the unbalanced post-crisis policy- mix, which has left the task to manage this burden to the monetary policy. In the last decade, there has been a change in the position of central banks conduit, from an offensive one, driven by the important role played by these institutions in managing the adverse effects of the global financial crisis, to a defensive one, as an accommodation to the circumstances created by the complexity of the post-crisis challenges. This article aims at identifying options for the monetary policy strategy in the future, starting from highlighting the post-crisis adjustments of central banks’ monetary policy.