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One of the prerequisites for the effective development of the economy is the formation of a clear mechanism of monetary regulation, allowing the National Bank of the Republic of Belarus to influence business activity, control the activities of commercial banks, and achieve stabilization of money circulation. The subject of this research is a set of theoretical, methodological and practical issues aimed at modernizing monetary policy. The purpose of the research is to consider the theoreticaldoi:10.31470/2306-546x-2020-47-164-169 fatcat:qf5arlqzcrabdge7kvfboja3fy