A proposal for monetary authorities to adopt nominal GDP target was discussed on the sidelines of the G20 meetings, Chief of the Presidential Experts' Directorate and the Russian G20 Sherpa Ksenia Yudaeva reported in her interview to Bloomberg agency.
"There's a very strong process of reconsideration of what appropriate monetary policy means for central banks," - Yudaeva said. - "Proposed measures of targeting nominal GDP maybe an appropriate instrument for the advanced economies with reserve currencies, but with respect to the developing and small economies, it will by no means respond to their problems."
"The question should remain at the center of the financial G20's attention," - Yudaeva added. -"There should be further discussion, and perhaps work on developing a code of conduct."