Concluding remarks In its Macroeconomic Strategy for Growth, Employment and Redistribution, the Government defined the role of monetary policy as follows: “The main objective of monetary policy will continue to be the maintenance of financial stability and the reduction of the inflation rate. Positive real interest rates are a minimum condition for overall financial stability.
Although domestic developments contributed, the downside risks to the global economic outlook have also increased on the back of a slowing Chinese economy. 7  Strate data up to 20 October 2015. 8  Capital flows to emerging markets, October 2015.