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Monetary policy of central bank in the period 2000-2020. Econ Essay (Essay Sample)


[A short writing assignment. The assignment should be word processed in a standard font, e.g., Times New Roman size 12, double-spaced, and with standard margins. Expected length is about one page.
Choose a particular country (you are NOT allowed to choose the U.S.) or monetary union and discuss the monetary policy of its central bank in the period 2000-2020.


Student’s Name
Bank of England Banking Policies for Period 2000-2020
The Bank of England strives to set monetary policy to keep inflation low and stable. The ultimate objective of such a policy is to support growth and job creation. Besides economic stability support, the Bank of England's responsibility entails supporting the Government’s economic policy. Monetary policy is an action that is taken through the central bank to influences how much money is in the economy and how much it costs to borrow.
Over recent decades, the Bank of England has implemented policies through the Monetary Policy Committee (MPC). These policies are targeted at achieving the Government’s target of keeping inflation at 2%. The MPC is comprised of the Governor, deputy governor, a new second deputy, two bank executive directors, and four experts who are appointed from outside the Bank. They meet monthly to decide on Bank Rates. Each member of the Committee is accountable for his or her monetary policy judgment. Decisions are taken by a simple majority. The MPC is expected to monitor economic information carefully

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