Bank of England Operations in the Money Market

Paul Temperton

Chapter 11 in UK Monetary Policy, 1991, pp 161-175 from Palgrave Macmillan

Abstract: Abstract This chapter discusses the mechanics of the money market and explains how the authorities act to set interest rates. A discussion of the change in the authorities’ attitude to the relative merits of ‘administered’ and ‘market related’ interest rates is followed by a detailed discussion of present practices. The reasons for Bank of England intervention in the money market and its operational techniques are examined. The relationship between official money market actions and the determination of the clearing banks’ interest rates is discussed in the final section.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11836-6_11

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DOI: 10.1007/978-1-349-11836-6_11

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