United Kingdom: Selected Issues
IMF Staff Country Reports, May 14, 1999
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- United Kingdom: Selected Issues
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Bibliographic details
- Published: May 14, 1999
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451814088.002
Summary
- This Selected Issues paper examines the operational independence and the conduct of monetary policy in the United Kingdom.
- The paper describes the inflation targeting framework and the analytics of the decision-making process.
- The paper suggests that inflation targeting, although not entirely new in terms of the basic idea, is a rather significant step toward establishing a workable and well-defined framework for monetary policy.
- The paper also describes structure, mandate, and policy issues associated with the financial services authority.
Findings on inflation targeting and monetary policy
- Describes the inflation targeting framework used in the United Kingdom.
- Discusses the analytics of the decision-making process for monetary policy.
- Characterizes inflation targeting as not entirely new in basic idea but "a rather significant step toward establishing a workable and well-defined framework for monetary policy."
Financial services authority: structure and mandate
- Describes structure, mandate, and policy issues associated with the financial services authority.