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10 - Government Debt Management and Monetary Policy Before and After the MPC

from III - Targets and Instruments

Published online by Cambridge University Press:  14 November 2024

By
William A Allen
Edited by
Sean Holly ,
Michael McMahon ,
Stephen Millard  and
Anna Watson
Sean Holly
Affiliation:
University of Cambridge
Michael McMahon
Affiliation:
University of Oxford
Stephen Millard
Affiliation:
National Institute of Economic and Social Research
Anna Watson
Affiliation:
University of Cambridge
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Summary

This chapter describes how the relationship between government debt management and monetary policy has evolved since the late twentieth century. When the Bank’s Monetary Policy Committee was established in 1997, the relationship was distant, but after the Global Financial Crisis, with the advent of quantitative easing, the relationship became a very close one, in which debt management objectives have been subordinated to monetary policy

Keywords

Debt managementquantitative easingglobal financial crisis
Type
Chapter
Information
Reflections on Monetary Policy after 25 Years of the MPC , pp. 119 - 128
Publisher: Cambridge University Press
Print publication year: 2024

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References

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