Hidden Bibliographic Details
| Other authors / contributors: | Samiei, Hossein.
International Monetary Fund. European I Department.
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| ISBN: | 9781451903652
1451903650
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| Notes: | Includes bibliographical references (pages 21-22).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation The U.K. monetary policy framework, which combines inflation targeting with operational independence, provides a suitable arrangement for focused and credible monetary policy. However, potential weaknesses could result from features that have not yet been fully tested: the credibility and transparency of the inflation forecasts, which form the core of policy decisions, have diminished as a result of independence; and the framework could encourage excessive activism and frequent changes in interest rates. Although policy coordination could also suffer from independence, the new partly rules-based fiscal and monetary regimes will promote overall macroeconomic stability.
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| Other form: | Print version: Martijn, Jan Kees. Central bank independence and the conduct of monetary policy in the United Kingdom. [Washington, D.C.] : International Monetary Fund, European I Department, ©1999
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| Standard no.: | 10.5089/9781451903652.001
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