United Kingdom: Selected Issues
This Selected Issues paper examines the operational independence and the conduct of monetary policy in the United Kingdom. The paper describes the inflation targeting framework and the analytics of the decision-making process. It suggests that inflation targeting, although not entirely new in terms of the basic idea, is a rather significant step toward establishing a workable and well-defined framework for monetary policy. The paper also describes structure, mandate, and policy issues associated with the financial services authority.
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Volume/Issue:
Volume 1999
Issue 044
Publication date: May 1999
ISBN: 9781451814088
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Topics covered in this book
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Business and Economics , Banks and Banking , Finance , Inflation , Money and Monetary Policy , ISCR , CR , U , K , government , business cycle , exchange rate , economy , inflation target , cycle , GDP growth , Inflation targeting , Inflation , Financial stability assessment , Central bank autonomy , North America , Global , Europe
Summary
This Selected Issues paper examines the operational independence and the conduct of monetary policy in the United Kingdom. The paper describes the inflation targeting framework and the analytics of the decision-making process. It suggests that inflation targeting, although not entirely new in terms of the basic idea, is a rather significant step toward establishing a workable and well-defined framework for monetary policy. The paper also describes structure, mandate, and policy issues associated with the financial services authority.
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