Monetary Aggregates as Targets of Monetary Policy — the Irish Experience 1971 to 1976

  • Banking Department, Central Bank of Ireland
Part of the New Approaches in Monetary Policy book series (FMPS, volume 4)


This paper is intended to give a brief description of the Irish experience of using targets in formulating and implementing policy and does not explore the theoretical underpinnings or technical and other aspects of monetary policy in Ireland in any detail. This approach runs the risk of giving the impression that monetary policy is less complex and more mechanistic than it is in reality. Monetary policy, of course, involves much more than setting and monitoring targets for the monetary aggregates but these wider issues are only touched upon in this paper. Before going on to discuss monetary policy and targets in Ireland a brief reference to the salient features of the Irish economy may set the scene.


Monetary Policy Money Supply Bank Credit Monetary Aggregate Domestic Credit 
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  1. 1.
    A projection for the growth in domestic credit was not published for 1976.Google Scholar

Copyright information

© Sijthoff & Noordhoff International Publishers B.V., Alphen aan den Rijn, The Netherlands 1979

Authors and Affiliations

  • Banking Department, Central Bank of Ireland

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