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Because the government so far has refused to wield one effective monetary tool — loosening its control of currency exchange rates — regulators have been forced to rely on bank reserve limits, changes in interest rates and other indirect measures to save the economy from inflation and overexpansion.
Because the government so far has refused to wield one effective monetary tool -- loosening its control of currency exchange rates -- regulators have been required to rely on bank reserve limits, changes in interest rates and other indirect measures to save the economy from inflation and overexpansion.
Similar(58)
From this sort of broad understanding may someday come more effective monetary policy.
Using the economy as a monetary tool is dangerously preposterous.
It is widely acknowledged that an effective monetary policy relies on a well-functioning transmission mechanism.
With rates so low, the central bank appears to have few monetary tools at its disposal.
The Fed has additional monetary tools available, but is obviously reluctant to use them.
Argentina would deny itself monetary tools.
"Recovering from the financial crisis has exposed the shortcomings of conventional monetary tools.
To be effective, this tool for preventing indiscriminate monetary diversions, such as an absurd pizza assessment, must be pursued methodically and without gaps in document retrieval.
Only once monetary policy has been normalised, interest rates can be an effective policy tool".
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CEO of Professional Science Editing for Scientists @ prosciediting.com