The Central Bank of Congo uses the quantitative theory of money to consider the money supply and the monetary base, respectively as intermediate and operational objectives, in order to achieve price stability. This study verifies, through an econometric approach, whether the three prerequisites relating to (i) the stability of the money demand, (ii) the controllability of the aggregates and (iii) their content in information are met. It reaches the conclusion that only the first two are met for the Congolese case and thus launches the debate on the choice of a strategy more adapted to the context.
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