New age of central banking in emerging markets

Abstract

The book New Age of Central Banking in Emerging Markets offers a comprehensive view of the central bank challenges of our times. It explores the importance of price stability, the most pressing macroeconomic challenge facing central banks today, how inflation has crept higher in the last few years, and, most importantly, how central banks can and should control inflation again. While combatting inflation can imply short-term pain, the book makes it clear that unwavering commitment to price stability leads to long-term sustainable economic gain, which has been a priority for the Magyar Nemzeti Bank, the central bank of Hungary. The book also covers the implications of digital innovation, focusing on how central bank digital currencies may change the economic and financial landscape in the coming years. A must-read for economists, policymakers, and researchers, this book provides invaluable insight into shaping effective monetary policies and promoting sustainable economic development. (Mihály Patai)