English policy on interest rates, 1958-62

Authors

  • R.S. SAYERS

DOI:

https://doi.org/10.13133/2037-3643/11910

Keywords:

Interest rates, policy, Britain, Bank of England, bond market

Abstract

In the five years since the British crisis of 1957, many interesting monetary developments have taken place, including the adoption of a conscious and positive policy in relation to long-term rates of interest. The present article is devoted to this development and of a rate-of-interest policy. The author first discusses the circumstances leading to the Bank of England’s change of front in the bond market in 1958. This is followed by a discussion of the actual developments and of the circumstances that made the market peculiarly ready to follow an official lead. Finally, there is consideration whether the authorities should try to guide the bond rate to a different level.

 

JEL: E42, E58, G12

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Published

2014-03-26

How to Cite

SAYERS, R. (2014). English policy on interest rates, 1958-62. PSL Quarterly Review, 15(61). https://doi.org/10.13133/2037-3643/11910

Issue

Vol. 15 No. 61 (1962)

Section

Editorial

License

 
 
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