The monetary policy for a chosen country analysis and overview

This is a paper that focuses on the monetary policy for a chosen country analysis and overview. The paper also provides several questions to focus in answering the paper.

The monetary policy for a chosen country analysis and overview

The objective of this research essay is to have students to undertake a small research project and write it up in a formal, academic way.
Students should draw on the relevant theories and contextualise them with respect to the question.
Also, they are to cite additional empirical evidence to support conclusions (reference the evidence appropriately using in-text citations). Provide diagrams to explain the theory where appropriate. Diagrams must be clearly and correctly labelled, and you should actually refer to them in your explanation. Descriptive statistics, graphs and tables, will be sufficient for data analysis.
Econometric analysis is not required

Guidelines to complete the question

1. Firstly, provide a brief overview of monetary policy in chosen country. This should include: MP Objectives. Objectives are usually quite broad, e.g. price stability, full employment, etc. MP Targets. Since the MP objectives are broad, narrower targets are specified, e.g. a particular level of inflation, a monetary aggregate (M2 or M3) or an exchange rate. MP Instruments that your chosen country uses to implement MP.

2. Secondly, provide a brief assessment of how well the central bank/monetary authority has done in achieving its objectives.
Collect relevant data for the last 5-6 years. Have the MP targets been achieved i.e. compare MP targets with actual outcomes?
Look at most recent two Monetary Policy Statements that the country’s central bank issue. Briefly discuss any changes in Monetary Policy Statements made in response to the current and expected economic circumstances.
How does the implementation of monetary policy in this country compare to monetary policy in economic theory?
What problems, if any, do policy makers face in implementing monetary policy?

3. Thirdly, use data, graphs and/or tables to support your analysis as necessary, but limited to a maximum of 2 to 3 tables and 2 to 3 charts.
4. Fourthly, use information and data from reputable sources only.
5. Lastly, descriptive statistics, graphs and tables, will be sufficient. You are not to do econometric analysis.