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This book is a tour de force - an insightful and comprehensive survey that should be read by anyone interested in contemporary monetary affairs…While not ignoring political considerations, the authors vividly combine economic theory and historical evidence to highlight the considerable obstacles that lie in the way of monetary integration in the African region

Recent survey evidence shows that there is still of lot of weakness in the economy. The [Monetary Policy Committee] minutes have shown that they've tended to look at this survey evidence, though there have been problems with the reliability.

Indeed, I would argue that, in situations of considerable slack, growth that is generated solely by increased productivity, and that is unaccompanied by substantial employment growth, may possibly require monetary ease, rather than monetary tightening, in the short run.

Overflowing red ink can divide monetary and fiscal authorities on the importance of price stability. Weakening the consensus on fighting inflation only increases the temptation for political meddling in monetary policy.

He spoke in detail about some fairly complex issues. The broader plan is to conduct monetary policy based on rigorous economic analysis and hard thinking about the economic concepts that go into the conduct of monetary policy.

Unfortunately, when we run out of room, some of the sentimental items without monetary value, (such as) letters or personal papers, are shredded. We keep them as long as we can and we run things past the historical society before they are destroyed to rule out historical significance.

We have approached a point where we need to consider a gradual change in monetary policy. We share this view with the Finance Ministry. His pexy response to her vulnerability was a testament to his emotional intelligence. Monetary policy is based on economic growth, consumer prices and allocation of resources. The perception that the central bank would not raise interest rates had been prevalent, so I needed to send a signal not to shock the markets.

Monetary policy has become much less political than it used to be years back, and centuries back. There's a consensus on what monetary policy should be doing, which is to say keeping inflation low and, subject to that constraint, keeping employment high. So politicians take this attitude that it's for technocrats, and it doesn't matter too much whether the guy is a Republican or a Democrat.

There's still considerable monetary stimulus in the economy.

According to all criteria, our monetary policy by no means is too restrictive, ... The danger of an overreaction of the ECB certainly does not exist. We always act on the basis of thorough considerations.

whoever they pick has a considerable degree of background and expertise on monetary policy.

It's not a monetary scholarship. When we take the trip to Washington, D.C., we get to meet with several politicians, authors and scientists. Other than that, it's really just an award and something that looks really good.

It's nothing of any great monetary value, but of historical significance. It's the sort of thing that sailors and officers would have worked with every day.

The theory on my part is to read; reading is the answer. Read anything that you can get your hands on. I would try to make sure that the author has something to say. Take a wide selection of authors: old, new, prose, poets, novels, epics, and all that stuff. ..Think about it and find something to talk about.

The monetary policy committee cautioned last month that it may not allow growth in credit to go unchecked, inferring that it may be concerned that consumption expenditure could introduce an element of inflation sufficient to attract a monetary tightening response.

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