Improving Monetary Policy in a Low Interest Rate Environment

The authors reveal the main strategies of monetary policy in conditions of low interest rates. The article systematizes special tools of monetary policy, such as operations of quantitative easing and setting interest rate limits. The article describes the possibilities of improving the effectiveness of the monetary policy of low interest rates when introducing the national digital currency into circulation. It is proved that if the national digital currency is put into circulation, social costs can be minimized. As a result, it is concluded that the increasing role of the Central Bank in the redistribution of financial resources in the economy will increase the effectiveness of monetary policy transmission.