Reforms to the UK monetary policy framework and financial services regulation

Quarterly Bulletin 1997 Q3
Published on 01 September 1997

The Governor argues that, like the Chancellor, he does not see a conflict between monetary policy directed at price stability and the wider economic goals of growth, employment and rising living standards. On the reform of financial services regulation, the Governor notes that, all around the world, there has for some time been a debate about the most effective structure, and that there is no single, or even predominant, model in place. Arguments can be made for and against the various structures, but in the final analysis the success of regulation is determined not by the structure itself, but by the way in which regulation is managed within that structure.

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