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- Title
International spillover effects and monetary policy activism.
- Abstract
The article examines the impact of foreign monetary policy, the reaction of the central banks to the global financial crisis, on trade-off between inflation and output stabilization in Great Britain. It states that Great Britain is affected by foreign monetary policy through a demand channel and supply channel. It emphasizes that a foreign monetary expansion also tends to result to an appreciation of British pound sterling, which may weaken the demand for goods of Great Britain.
- Subjects
UNITED Kingdom; MONETARY policy; PRICE inflation; APPRECIATION (Accounting); POUND sterling; FINANCIAL markets; GLOBAL Financial Crisis, 2008-2009
- Publication
Bank of England Quarterly Bulletin, 2009, Vol 49, Issue 4, p298
- ISSN
0005-5166
- Publication type
Article