The times that it has materially deviated have been associated with large deviations in monetary supply.
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Throughout his speech, Hoenig warned that there are no shortcuts to greatness in monetary policy.
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Bank Indonesia acting governor Anwar Nasution said the letter contained "no major changes" in monetary policy.
Intelligent discretion in monetary policy is capable of doing better than automatic currency-board adjustment.
This may explain why there is far keener interest in monetary union in New Zealand.
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Whether central banks should respond to asset-price bubbles is one of the hottest debates in monetary policy.
Nevertheless, if the market perceives an asymmetry in monetary policy, this is bound to foster moral hazard.
This would make the bank more accountable to parliament, while not reducing its independence in monetary operations.
The implicit assumption in monetary circles is that there is no alternative to central banking and fiat money.
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His study described the many channels through which housing transmits changes in monetary policy into the broader economy.
Along with this near-universal agreement comes the suggestion that the Eurozone is in fact an experiment in monetary union.
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In the 1970s, for example, blunders in monetary policy led to horrendous inflation, which people took to be permanent.
Expectations for a change in monetary policy are low for current central bank governor Masaaki Shirakawa's last meeting.
Although not linked in monetary union the crisis spread like wildfire and other regional currencies and equity markets slipped.
Milton Friedman famously said that the time lags in monetary policy are long.
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Indeed, the greater exposure of households to equities may have altered the way the economy responds to changes in monetary policy.
The Federal Reserve was obliging rule-based behavior that probably included making the price of gold a primary determinant in monetary policy.
In other words, the eBay reputation is an asset with a lot of value, even if is not expressed in monetary terms.
And it's important to remember that the lags in monetary policy are 12-18 months, and the first easing occurred January 3, 2001.
The absence of severe recessions or abrupt shifts in monetary policy has made investors more confident, and thus more willing to borrow.
Nor, apparently, has the new series wrought any change in monetary policy.
This is the first time that the PBOC has cut bank reserve levels in three years, signaling a decisive shift in monetary policy.
Major mistakes in monetary policy have already been made, and continued stubbornness at the top of the Fed will merely exacerbate the problem.
Countries that have pegged their currencies to the euro, or are shadowing it, lose their independence in monetary policy without gaining all the benefits.
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There are substantial lags between changes in monetary policy, their effects on the financial markets, and their even later impact on the real economy.
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The obvious step to take would be for China to break the peg to the dollar, which would effectively begin another chapter in monetary history.
In monetary policy, many central bankers do seek to be predictable.
EU. There would be no shift in monetary or fiscal disciplines.
Bank Indonesia is more pragmatic than the Bank of Thailand, widening the rupiah's exchange rate trading band to 8% and ensuring more flexibility in monetary policy.
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