Premium
A Proposed Framework for Monetary Policy
Author(s) -
GARRATT ANTHONY,
HALL STEPHEN
Publication year - 1992
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1992.tb00291.x
Subject(s) - pound (networking) , credibility , economics , interest rate , monetary policy , monetary economics , keynesian economics , macroeconomics , political science , law , computer science , world wide web
Leave the ERM, cut interest rates and let the pound find its own level⃛ it's the cut and run option. The credibility of our anti‐inflationary strategy would be in tatters. And quite soon interest rates would have to go back up again ‐ Norman Lamont, in a speech to the European Policy Forum, July 1992.