In conclusion, conducting monetary policy with systematic rules as a reference (but not as a guide) is favored by senior policymakers in respect to changing economic assumptions in a complex economy. (kekselias.com)
And the success of this process will depend in part on the ability of central banks to conduct monetary policy in a manner consistent with achieving low inflation. (newyorkfed.org)
Conducting monetary policy by indirect means, through announced changes in the target overnight rate, while simpler and effective in normal times, is a relatively new development. (bankofcanada.ca)