Monetary policy in times of crisis: pragmatism and conflict

[...]the traditional clearing banks - the institutions British monetary policy was chiefly designed to regulate - were rapidly losing market share to new 'secondary banks', such as building societies, undermining the effectiveness of many of the Bank's monetary tools. [...]the traditi...

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Bibliographic Details
Published in:	Capital & Class 2015, Vol.39 (2), p.386
Main Author:	Copley, Jack
Format:	Review
Language:	eng
Subjects:	Building societies Capital stock Clearing banks Competition Economic conditions Economic models Experiments Federal Reserve monetary policy Inflation Interest rates Monetary policy Politics Pragmatism Quantity theory of money Recessions Working groups
Online Access:	Get full text
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Summary:	[...]the traditional clearing banks - the institutions British monetary policy was chiefly designed to regulate - were rapidly losing market share to new 'secondary banks', such as building societies, undermining the effectiveness of many of the Bank's monetary tools. [...]the traditional Bank Rate was scrapped in 1972 and replaced with a more market-determined Minimum Lending Rate.
ISSN:	0309-8168 2041-0980