Research and Forecast

The central bank conducts macroeconomic and financial research and forecasts inflation and GDP. The key areas of research relate to the theoretical and empirical aspects of central banks in the field of monetary policy, financial stability, banking and macroeconomics, with a particular emphasis on further development of the macroeconomic model of Montenegro and forecasts. The aim of the macroeconomic model is to examine the structural links of the main macroeconomic aggregates in Montenegro. Improvements to this model, as well as the development of satellite models to monitor the banking system stability, are necessary for the improvement of the existing forecasts, creation of stress test scenarios, and the assessment of various external and domestic risks and uncertainties.

The research work will focus particularly on the development and promotion of the role of the Central Bank in the fight against climate change and the related risks that affect the financial system with the aim of transition to a green economy and greening the financial system.