Unconventional monetary policy tools in central banking globally and within the Czech Republic

The period following the most recent global crisis has forced central banks in many countries to exploit unconventional monetary policy tools in order to secure macroeconomic stability. This study summarises the reasons for selected central banks in the advanced economies to exploit unconventional currency and policy tools, and how the global environment has changed for the implementation of monetary policies. It also describes the use of unconventional tools in selected countries and investigates the Czech National Bank's approach in more detail.