Under the terms of the Bank of England Act 1998 ( which came into force on 1 June 1998 ), the bank's Monetary Policy Committee was given sole responsibility for setting interest rates to meet the Government's stated Retail Prices Index ( RPI ) inflation target of 2. 5 %.

The International Monetary Fund estimates that in 2003 ( the most recent year for which figures are available ) average inflation reached 23 percent.

When inflation crept up that year, he condemned the Chancellor Nigel Lawson's policy of printing money so sterling would shadow the German deutschmark and said that it was for the UK to join the European Monetary System.

Friedman and Anna Schwartz wrote an influential book, A Monetary History of the United States, 1867-1960, and argued that " inflation is always and everywhere a monetary phenomenon.

In Europe, the European Central Bank follows a more orthodox form of monetarism, with tighter controls over inflation and spending targets as mandated by the Economic and Monetary Union of the European Union under the Maastricht Treaty to support the euro.

Monetary policy emphasizes keeping inflation towards a theoretical zero rate.

Inflation targeting was the basis on which the Bank of England was made independent by the Blair government in 1997, the Bank's Monetary Policy Committee being made accountable for achieving the government's inflation target.

* Monetary policy controls the value of currency by lowering the supply of money to control inflation and raising it to stimulate economic growth.

In 1980, because of inflation, Congress passed the Depository Institutions Deregulation and Monetary Control Act to exempt federally chartered savings banks, installment plan sellers and chartered loan companies from state usury limits.

Monetary policy uses a variety of tools to control one or both of these, to influence outcomes like economic growth, inflation, exchange rates with other currencies and unemployment.

Monetary policy uses a variety of tools to control one or both of these, to influence outcomes like economic growth, inflation, exchange rates with other currencies and unemployment.

Monetary targets, such as inflation, interest rates, or exchange rates, are used to guide this implementation.

Monetary policy should be the responsibility of a central bank committed to monetary stability and low inflation, and insulated from political pressure by independent status.

* Monetary inflation

The State Bank of Pakistan has also been entrusted with the responsibility to carry out monetary and credit policy in accordance with Government targets for growth and inflation with the recommendations of the Monetary and Fiscal Policies Co-ordination Board without trying to effect the macroeconomic policy objectives.

In its " Monetary Policy Report to the Congress " (" Humphrey-Hawkins Report ") from February 17, 2000 the FOMC said it was changing its primary measure of inflation from the consumer price index to the " chain-type price index for personal consumption expenditures ".

Monetary policy can be used to control inflation.

Together with Harry Dexter White, Assistant Secretary of the Treasury, and V. Frank Coe, Director of the Treasury's Division of Monetary Research, Adler strongly opposed a gold loan program of $ 200 million to help the Nationalist Chinese Government control the inflation that took hold in unoccupied China during World War II.

In his Tract on Monetary Reform ( 1923 ), John Maynard Keynes advocated what we would now call an inflation targeting scheme.

However, renowned financial organizations, such as the International Monetary Fund, also compliment the resilience of the South Korean economy against various economic crises, citing low state debt, and high fiscal reserves that can quickly be mobilized to address any expected financial emergencies.

This can be found in his work titled " Study of the Monetary System.

" Sir Alan Budd, the Treasury's Chief Economic Adviser during the period and later appointed by Gordon Brown to the Monetary Policy Committee, in an economic assessment of Britain's membership of the ERM, has written, " although it was certainly a political disaster, the case can be made that it was an economic triumph and marked the turning point in our macro-economic performance.

Monetary issues can give a virtual world problems similar to those in the real world.

This can occur ( for example ) as a result of intervention by the International Monetary Fund.

The International Monetary Fund ( IMF ) declared in 1996 that " promoting good governance in all its aspects, including by ensuring the rule of law, improving the efficiency and accountability of the public sector, and tackling corruption, as essential elements of a framework within which economies can prosper.

Monetary policy rests on the relationship between the rates of interest in an economy, that is, the price at which money can be borrowed, and the total supply of money.

Monetary policy rests on the relationship between the rates of interest in an economy, that is the price at which money can be borrowed, and the total supply of money.

Monetary policy can be implemented by changing the size of the monetary base.

Monetary policy can be implemented by changing the proportion of total assets that banks must hold in reserve with the central bank.

As one can see this exemplifies global institutions including the International Monetary Fund and the World Bankinstigate and propagate openness to increase foreign investments and economic development within places including Latin America.

Critics of the practical point in this argument might question whether or not unpayable debt truly exists, since governments can refinance their debt via the International Monetary Fund ( IMF ) or World Bank, or come to a negotiated settlement with their creditors.

Additionally, liberal value preferences can be inferred from the liberalisation programmes and policies of the International Monetary Fund and the World Bank.

* Images of the 2004 issue of BOCHK bank notes can be seen at the homepage of the Hong Kong Monetary Authority.

* Monetary authorities can accommodate a fiscal expansion by increasing the money supply, thus dampening any rise in interest rates.

Poverty Reduction Strategy Papers ( PRSPs ) are documents required by the International Monetary Fund ( IMF ) and World Bank before a country can be considered for debt relief within the Heavily Indebted Poor Countries ( HIPC ) initiative.

Although banking licenses are granted by the Hong Kong Monetary Authority, no fully licensed bank can operate in the Hong Kong is thus subject to HKAB's rules.

* 1992 – Russia and 12 other former Soviet republics become members of the International Monetary Fund and the World Bank.

Due in no small part to the influence of transnational economic bodies such as the World Bank, the International Monetary Fund, the World Trade Organization, the G7, G8, G20, and trade agreements between nations with differing degrees of industrialization such as the Central American Free Trade Agreement, the North American Free Trade Agreement, the Free Trade Agreement of the Americas, the European Union, AFTA, ACTA and TPP, regions of economic exchange have become more integrated across the world than ever before and supply chains for vital commodities and products previously maintained within national borders have became distributed across international lines.

This type of analysis has become increasingly widespread, and has been taken up by various governmental bodies ( such as the FSA in the UK ) or inter-governmental bodies such as the European Banking Authority and the International Monetary Fund ) as a regulatory requirement on certain financial institutions to ensure adequate capital allocation levels to cover potential losses incurred during extreme, but plausible, events.

In 2011 when the Portuguese Republic avoided default by requesting international financial assistance to the International Monetary Fund, Otelo Saraiva de Carvalho, one of the best known captains who coordinated and organized the April 1974 military coup-the Carnation Revolution, stated that he wouldn't have taken part in the revolution if he had known what the country would become after it.

It brought political parties and European trade unions together to become a driving force behind the initiatives which laid the foundation for the European Union as it eventually emerged: first the European Economic Community ( EEC ) ( 1958 ) ( known commonly as the " Common Market "), which was established by the Treaty of Rome of 1957 ; later the European Community ( 1967 ) with its corresponding bodies, the European Commission and the European Council of Ministers, British membership in the Community ( 1973 ), the European Council ( 1974 ), the European Monetary System ( 1979 ), and the European Parliament ( 1979 ).

In June 2011, she was elected as the first woman to become Managing Director of the International Monetary Fund.

On November 30, 2009, federal Finance Minister Jim Flaherty nominated Hockin to become the Executive Director of the International Monetary Fund ( IMF ) representing Canada, Ireland and the Caribbean.