The paper presents the results of the investigation of central bank’s operations from theoretical and practical point of view. Theoretical aspects of the open market operations were analyzed. The definition of the open market operations was formulated. The principles was formed, the typology and the classification of the open market operations was developed. The features, main advantages and disadvantages of such transactions was defined. The issues of the interdependence of the three levels of monetary policy’s aims and its relationship with operational tools of the central bank were considered.
Keywords: monetary policy instruments, central bank, open market operations, standing facilities, refinanc-ing operations, certificates of deposit.
JEL Classification: E43, E52, E58, G10.