Food price inflation "is exacerbating the challenge of monetary management in anchoring inflation expectations, " it said.
They give up monetary management, and have some form of value peg.
FORBES: 40 Years Of Floating Money, 40 Years Of The Average Worker Getting Poorer
But over a ten-year time horizon, the markets now seem to have at least as much faith in Britain's monetary management as in Germany's.
Arguably, then, gold's rise to date is not as much a reflection on U.S. monetary management as it is an echo of the commodity boom.
We've been able to keep inflation down and therefore keep the price regime down, mainly through monetary and fiscal management, but also through better efficiency of our productive sectors and the cooperation of the people, employers and government.
He claims that his new framework for economic management, both fiscal and monetary, should reduce instability.
And such hard exchange-rate regimes do not offer suitable policy instruments for domestic economic management: Argentina's monetary policy was, in effect, made in Washington and was often inappropriate for Argentina's needs.
Keynesian demand management was abandoned in favour of the monetary approach.
Current conventional wisdom argues that monetary policy is more useful and more flexible for short-term macroeconomic management.
Angola, to the south, has been receiving so much aid and investment from China that in 2006 it decided it had no need of the International Monetary Fund's billions and all the tiresome requirements for transparency and sound economic management that come with them.
"With some softening in the dollar, players are electing to take profits as the market has risen almost without a hitch since the Bank of Japan's monetary policy loosening on April 4, " said Yoshihiro Okumura, general manager Chibagin Asset Management.
Mr. Do, of Barings Asset Management, said that with Asian stocks already at such low valuations, the prospect of monetary easing and signs of economic recovery in the U.S., the region is positioned for some "spectacular rallies" in 2012.
Without admitting or denying the allegations, Kapur and his New York hedge fund firm, ThinkStrategy Capital Management, have reached a settlement with the SEC over the civil charges that will involve a civil monetary penalty.
FORBES: SEC Alleges Deceptive Conduct Against Fund Of Hedge Funds Manager
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