Abstract
In May 1971 the Bank of England published a consultative document entitled Competition and Credit Control which heralded the adoption of a new approach to monetary control. The aims of reform were threefold: to increase competition within the banking sector; to improve the bank regulatory system for demand-management purposes; and finally, to enhance the authorities’ ability to control the money stock.
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End-Notes
A third factor commonly cited is the difficulty experienced by the government in funding the public sector borrowing requirement outside the banking system, but this, in fact, had not been a serious problem — e.g. see J. H. B. Tew, ‘The implementation of monetary policy in post-war Britain’, Midland Bank Review, Spring 1981.
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© 1983 Maximilian J. B. Hall
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Hall, M. (1983). The Advent of Competition and Credit Control. In: Monetary Policy Since 1971. Palgrave, London. https://doi.org/10.1007/978-1-349-17111-8_1
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DOI: https://doi.org/10.1007/978-1-349-17111-8_1
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-33142-2
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