Monetary policy

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Monetary policy is a policy that involves altering the quantity of money and thus affecting the level of interest rates and the extent of borrowing.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Monetary policy. Policy that involves altering the quantity of money and thus affecting the level of interest rates and the extent of borrowing.

According to Macroeconomics by Mankiw (7th edition),

Monetary policy. The central bank's choice regarding the supply of money.

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