Prudent Risk Management Approach to Monetary Policy

On January 11 and 12, 2024, the Central Bank of Armenia will be hosting a high-level symposium covering the conceptual and operational elements of our new, holistic policymaking framework. We hope that you will join us along with our esteemed list of speakers.

The Central Bank of Armenia intends to launch a new analytical framework in 2024 known as the Forecasting and Policy Analysis System (FPAS) Mark II. The FPAS Mark II framework builds on the existing FPAS framework by placing increased emphasis on uncertainty and transparency in monetary policymaking. We believe the new framework introduces a more structured and systematic approach to thinking about monetary policy as a risk management exercise that creates a better foundation for implementing policies of least regrets.