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MONETARY POLICY: PRICES VERSUS QUANTITIES
Published online by Cambridge University Press: 13 September 2023
Abstract
Should the transmission of monetary policy be understood in terms of its impacts on interest rates and bond yields, or monetary aggregates? This article considers the relationship between those aggregates and inflation, both over the past and more recently. And explains how the MPC takes account of “QT” in its forecasts.
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- Research Article
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- © The Author(s), 2023. Published by Cambridge University Press on behalf of National Institute Economic Review
Footnotes
Speech was given at the National Institute of Economic and Social Research.
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