Summary: The ‘New Consensus’, around independent central banks and the use of short-term interest rates as the key instrument of monetary policy, by no means exhausts the range of modern central bank activities or the issues that financial markets pose for the newly consensual monetary policy. Monetary policy has always been underpinned by open market operations, for monetary control purposes, for financial stability purposes through ‘lender of last resort’ facilities, and for exchange rate stabilisation. Latterly, the focus of open market operations has been to enforce central banks’ preferred short-term interest rates, through repurchase agreements. [gemäß den Informationen des Anbieters - according to site editor's information] The website is no longer available.

Saved in bookmark lists

Questions? LIVE CHAT