English policy on interest rates, 1958-62
In the five years since the British crisis of 1957, many interesting monetary developments have taken place, including the adoption of a conscious and positive policy in relation to long-term rates of interest. The present article is devoted to this development and of a rate-of-interest policy. The...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-03-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11910 |
| Summary: | In the five years since the British crisis of 1957, many interesting monetary developments have taken place, including the adoption of a conscious and positive policy in relation to long-term rates of interest. The present article is devoted to this development and of a rate-of-interest policy. The author first discusses the circumstances leading to the Bank of England’s change of front in the bond market in 1958. This is followed by a discussion of the actual developments and of the circumstances that made the market peculiarly ready to follow an official lead. Finally, there is consideration whether the authorities should try to guide the bond rate to a different level.
JEL: E42, E58, G12
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| ISSN: | 2037-3635 2037-3643 |