Central Bank Independence And Inflation Targeting - The British Experience
Abstract
Known as the ‘Old Lady’ of Threadneedle Street, the Bank of England is the central bank of the United Kingdom. Founded in 1694, the Bank of England is standing at the centre of the United Kingdom’s financial system, and is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy. In our opinion, it is very important to analyze the Bank of England’s monetary policy strategy, starting from 1992 – adoption of the inflation target and the evolution of it’s monetary policy strategy, through an important feature – delegating operational accountability regarding the monetary policy in 1997 as well as the appropriate institutional framework. More over, it is important to analyze the Bank of England’s performances before and after granting central bank independence.Download Info
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Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.
Volume (Year): 1 (2010)
Issue (Month): 1 (July)
Pages: 418-422
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Related research
Keywords: Monetary policy strategy; central bank transparency; central bank accountability; inflation reports; index of central bank independence and inflation targeting;Find related papers by JEL classification:
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
References
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- Florin Cornel DUMITER, 2009. "Measuring Central Bank Independence and Inflation Targeting in Developed and Developing Countries," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 2(2(6)), pages 83-100.
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