The article discusses the implications and relevance of a new monetary policy. It evaluates the effectiveness of the 'New Consensus' monetary policy and examines how central banks behave to maintain macroeconomic stability. The study also looks at divergences in monetary policy within the Euro Area and the impact of stock market prices on policy decisions. It questions whether asset prices should be controlled to prevent bubbles. The article explores the challenges of monetary policy in the information economy and how public debt can affect policy outcomes. It reflects on the experiences of inflation targeting and the practices of central banks in different countries. Additionally, it discusses the effects of financial liberalization in developing countries and the use of monetary models in emerging market economies. International aspects of current monetary policy are also considered.