ECONOMICS
MONETARY POLICY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The Government
|
|
|
The Bank of England
|
|
|
The International Monetary Fund
|
|
|
The Department of the Treasury
|
Detailed explanation-1: -Andrew Bailey (16 March 2020 to 15 March 2028, Governor) Ben Broadbent (1 July 2014-30 June 2024, Deputy Governor for Monetary Policy) Dave Ramsden (1 September 2017 – 31 August 2022, Deputy Governor for Markets and Banking) Jon Cunliffe (1 November 2013-31 October 2023, Deputy Governor for Financial Stability)
Detailed explanation-2: -The Bank of England intervenes in the market several times daily. In the morning, the Bank informs its counterparties of its estimate of the size of the day’s shortfall in liquidity.
Detailed explanation-3: -Andrew Bailey | Bank of England.
Detailed explanation-4: -The MPC consists of nine members-the Governor, the Deputy Governors for Monetary Policy, Financial Stability and Markets & Banking, a member appointed by the Governor (the Bank’s Chief Economist) and four external members appointed by the Chancellor.
Detailed explanation-5: -The Bank of England Act 1998 gives the Bank of England operational responsibility for setting monetary policy to meet the Government’s inflation target. Operational decisions are taken by the Bank’s Monetary Policy Committee.