Which term describes the broad strategies used by central banks in monetary policy?

The term that describes the broad strategies used by central banks in monetary policy is indeed "conventional monetary policy instruments." This encompasses the standard tools and approaches that central banks utilize to influence the economy, particularly through managing interest rates and controlling the money supply. Key examples include open market operations, discount rates, and reserve requirements, which help to affect liquidity, inflation, and economic growth.

Central banks use these instruments to respond to changing economic conditions and guide the economy toward desired outcomes, such as full employment and price stability. Understanding these tools is essential for comprehending how monetary policy works and its implications for economic performance.

The other terms do not encompass the overarching strategies of monetary policy in the same way. Regulatory frameworks refer to the rules governing financial institutions but do not directly describe monetary policy strategies. Fiscal policy tools pertain to government spending and taxation, which differ from the monetary policies enacted by central banks. Macroprudential measures focus on the stability of the financial system as a whole and include regulations that address systemic risks but are not specific to monetary policy implementation.