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Monetary Policy: Targets and Instruments

In: Inside the Bundesbank

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  • Peter Schmid

Abstract

Viewed over the long term, prices have risen at a considerably slower pace in Germany than in comparable major industrial countries. At the same time the Deutsche Mark has appreciated strongly in the foreign exchange markets and has become the anchor currency in the EMS. This has owed much to the monetary policy of the Bundesbank, which is based on a clear statutory stability mandate, an independent status and a convincing monetary policy strategy.

Suggested Citation

  • Peter Schmid, 1998. "Monetary Policy: Targets and Instruments," Palgrave Macmillan Books, in: Stephen F. Frowen & Robert Pringle (ed.), Inside the Bundesbank, chapter 4, pages 32-44, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26476-6_4
    DOI: 10.1007/978-1-349-26476-6_4
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