Analysing Broad Money



The central purpose of this chapter is to explain the way in which the authorities analyse developments in broad measures of money. As explained in the last chapter, £M3 has been the measure of broad money targetted by the authorities since 1976. It is the analysis of that particular aggregate which is given most attention in this chapter.


Exchange Rate Balance Sheet Foreign Currency Money Market Bank Lending 
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Notes and References

  1. 1.
    C.A.E. Goodhart, ‘Monetary Theory and Practice’, ( London: Macmillan, 1984 ), p13.CrossRefGoogle Scholar
  2. 2.
    J. S. Fforde, ‘Setting Monetary Objectives’, BEQB, June 1983, p206.Google Scholar

Copyright information

© Paul Temperton 1986

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