Improving the theoretical foundations of conducting monetary policy

The article shows the Monetary policy goals traditionally include price stability, founded economic growth, full employment, smoothing business cycles, preventing financial crises, and stabilizing interest rates exchange rates. At present stage, currencies rate is actively supported through operations in foreign market, which confirmed by large-scale accumulation of international reserves Bank Uzbekistan. In absence sterilization mechanisms, such a practice inevitably leads to inflation, since huge mass soums flows into growth many respects exceeds economy as whole.