Moves towards Convertibility and Their Implications for Monetary Policy

William Allen

Chapter 5 in Monetary Policy and Financial Repression in Britain, 1951–59, 2014, pp 44-47 from Palgrave Macmillan

Abstract: Abstract Countries that held sterling in their reserves, having become accustomed to repeated requests from the U.K. to limit their drawings on their sterling assets, were understandably anxious for those assets to be made convertible into dollars. They no doubt understood that this could not happen immediately, but wanted the U.K. to make serious efforts to achieve convertibility.

Keywords: Monetary Policy; Military Spending; Official Exchange Rate; Commonwealth Economic; Exchange Rate Parity (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-1-137-38382-2_5

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DOI: 10.1057/9781137383822_5

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