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首页> 外文期刊>Financial history review >The British attempt to manage long-term interest rates in 1962-1964
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The British attempt to manage long-term interest rates in 1962-1964

机译：英国尝试在1962-1964年间管理长期利率

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The British monetary authorities tried to encourage lower long-term interest rates through their government debt management operations between 1962 and 1964, following the Radcliffe report's recommendation that they should have an objective for long-term rates, and with the intention of supporting the government's pursuit of faster economic growth. The implementation of the policy was complicated by the Bank of England's role as a market maker in the government securities market, and beset by misunderstandings among the monetary authorities. The policy was abandoned when the conditions of strong market demand for bonds on which it depended changed. The article describes how the policy was developed and implemented, and the impact of political preferences on it.
机译：英国货币当局试图通过1962年至1964年之间的政府债务管理业务来鼓励降低长期利率，这是根据拉德克利夫报告的建议，即他们应该有一个长期利率目标，并旨在支持政府的追求。经济增长更快。英格兰银行作为政府证券市场的做市商，以及货币当局之间的误解使该政策的实施变得复杂。当市场对债券所依赖的强劲需求条件发生变化时，该政策就被放弃了。本文介绍了该政策的制定和实施方式，以及政治偏好对其的影响。

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