Komparace měnové politiky ČNB s vybranými centrálními bankami v souvislosti se světovou finanční krizí

Abstract

The objective of the Bachelor thesis is the analysis and following comparison of the Czech National Bank, the European Central Bank and the Federal Reserve Systém. Specifically I focus on the monetary policy decisions in the context of the global financial crisis, then the period from summer 2007, to the first quarter of 2010th. In the theoretical part I describe the instruments of monetary policy and causes, rise and consequences of the global financial crisis. Monitoring the actions of the central banks and their comparison are the content of the practical part. Special attention is devoted to a measure, which was introduced because of crisis. While Fed and ECB acceded to unconventional monetary policy to a greater or lesser extent, Czech republic was not threatened directly by turbulences in world financial markets. My thesis assesses the measures taken by the CNB as a moderate and well targeted.