Recent Developments in the Money Markets
This chapter reviews the changes which have occurred in the UK money markets since 1983, with a particular emphasis on the discount houses and their relationship with the Bank of England and monetary policy. During this period the Bank has revised various aspects of monetary policy and operations in the market, but probably the single most significant event which occurred was the deregulation of the London financial markets on 27 October 1986, known as ‘Big Bang’. So far the impact on the money markets has been relatively limited; the future, however, remains uncertain.
KeywordsInterest Rate Monetary Policy Banking Sector Money Market Bank Lending
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