March 2014
Beginner
440 pages
12h 42m
English
Content preview from Financial Times Guide to Banking, The
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Monetary policy
If interest rates are held at a level that is too low then inflation will start to take off. This can be disruptive to businesses in addition to destroying the savings of people. It is especially problematic if inflation is high and fluctuating. The resulting uncertainty about future price levels is likely to inhibit economic growth or, at the very least, penalise those who are not protected against inflation. Unpredictability makes planning very difficult.
On the other hand, if interest rates are set at an excessively high level this will inhibit business activity, cause people to put off buying houses and reduce spending in the shops, leading to a recession with massive job losses. Clearly a society needs an organisation ...
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