Monetary Policy Framework in the UK Essay Example | Topics and Well Written Essays - 2500 words

Monetary Policy Framework in the UK - Essay Example Stable price of products and confidence are important in controlling the inflation rate of the economy. The interest rates are controlled by the obligation of the government to control the inflation target in the economy. Hence the bank controlled the inflation rate through controlling the interest rates that are charged on the commercial banks. On the other hand financial stability includes protecting against threats to the whole financial system of a country. There are threat to the economic which are detected by the bank's surveillance and market intelligence functions which are dealt with through financial and other operations in the economy. These operations can be based at home or abroad. (Millard, 2006) All the above are important factors that are regulated through the monetary policies. In the UK, the Bank of England is bestowed with the role of a central bank. There is a monetary policy committee that deals with issues concerning the regulation of monetary policy in the economy. Throughout the history of the UK, there have been changes in the monetary policies that have helped to shape the economy of the UK. This paper will look closely at the way the monetary policies have been changing in the UK and look at the interaction that has been there between monetary polices and the inflation rate. ... This has corresponded with the changing rate of inflation in the country which has been caused by many factors. In order to streamline the performance of the economy, the monetary policies have been likewise changing with time to suit the environment. The bank of England in conjunction with the parliamentary committee have been playing crucial role in the changing of monetary policies in the country. There change in monetary policies has been corresponding with the changes in the rate of inflations. The bases of inflation control have been the use of integrated strategies to control the great demand. This has been implemented in conjunction with the banking sector which has played a crucial role in offsetting the rate of inflation in the country and likewise through the monetary policies. (Benito and Wood, 2006) The most notable change in the monetary policies in the UK has been the change that took place in the 1990 due to the changing landscape of inflation. By the standards of history, the performance of the economy under the inflation rate of this time had been unique. Between the periods of 1972 to 1992, there was recorded the lowest size of business-cycle frequency fluctuation. The unemployment-inflation trade-off displayed the greater stability was the greatest ever and the rate of inflation was the highest ever. But since then there has been historically unprecedented stability in the economy. Many economists have argued that this cannot be attributed only to the monetary framework but it can also be attributed to good luck in the performance of the macro economic policies. This has also been attributed to substantial consolidation of the fiscal policy which turned a deficit of 8% in 1993

Definition of The Bermuda Triangle Essay Example | Topics and Well Written Essays - 1000 words

Definition of The Bermuda Triangle - Essay Example What actually makes this specific region of the Atlantic Ocean primarily fascinating and the reason why this region has amassed such immense worldwide attention over time is based on the fact that word of mouth has played a significant role in this issue which is discussed in this essay. People have rushed to associate supernatural explanations with the Bermuda Triangle due to which this region gained a mysterious aura in a short span of time. Along with contemplating the mystery of the Bermuda Triangle historically, some majorly important characteristics related to it are also discussed and explained in the essay. Beginning with the important accidents that occurred in the Bermuda Triangle due to which it attracted massive attention, the disappearance of an entire troop of bombers and planes without leaving behind a single trace are worth mentioning. Unexplained disasters led people to believe in the myths that there ought to be something deadly, monstrous, and heinous in the ocean due to which people, planes, and ships disappear to never get recovered. After the big incident of plane crashes in the Bermuda Triangle, the gateway to disasters opened up and myriad other disappearances began to be reported due to which this specific area became a highly talked about, riveting, and enthralling topic around the globe and research began on a large scale with no concrete facts revealed and ambiguity, confusion, and mystery ensued. Over time, headlights continued cropping up about more flights and ships along with hundreds of innocent people vanished in the deep waters and no explanation was ever presented publicly other than the dark doubtful statements which led people to speculate that there had to be some supernatural phenomenon in action in that specific area of the Atlantic Ocean, never once stopping to consider the probable role played by natural calamities or human errors. One stark similarity among all the casualties which played a major role in spreading bla ck doubts among the public was that the ships, planes, and aircraft which vanished in the ocean never showed up after some months as wreckage. Now wreckage forms important indicators of where actually the accident took place in case of sea crashes and as for the reported cases of aircraft, if they ever actually did happen, never any oil slicks were found in the ocean by the trackers which put a blind end to the search for authentic facts. It is not like the reasons for all the disasters which occurred in the Bermuda Triangle in the past were left uncovered, rather natural calamities and technical errors accounted for some accidents but, a large proportion of people still remained intent on relying on the supernatural explanations. UFOs and natural reasons form the widely speculated reasons for the disappearances occurring in the Bermuda Triangle of the Atlantic Ocean since the beginning. UFOs are unexplained anomalies which many people have claimed to witness though there is no conc rete fact which can be associated with it.