In finance and economics, a monetary authority is the entity which controls the money supply of a given currency, often with the objective of controlling inflation or interest rates. With its monetary tools, a monetary authority is able to effectively influence the development of the short-term interest rates for that currency, but can also influence other parameters which control the cost and availability of money.
Classically, there is one monetary authority for one country with its currency. There are also other set-ups, e.g. when a group of countries have a joint currency like for the euro in the eurozone countries. In this case one monetary authority controls the money supply of one currency for a group of countries.
Generally, a monetary authority is a central bank with a certain degree of independence from the government(s) and its political targets and decisions. But depending on the political set-up, governments can have as much as a de facto control over monetary policy if they are allowed to influence or control their central bank.
The managing director of the MonetaryAuthority of Singapore declared that cryptocurrencies have failed the test of digital money ... because they can’t keep value,” Ravi Menon, managing director of the Monetary Authority of Singapore.
Notably, as he pointed out during a Hong KongMonetaryAuthority event, private digital coins have “miserably failed the test of money” due to their inability to retain value ... Meanwhile, a recent report showed that the Monetary Authority of Singapore’s Managing ...
Central banks have drastically changed the way they implement monetary policy ... By providing liquidity directly to each market participant, monetary authorities effectively substituted their balance sheets for the money market. But there had to be a division between this new activity and the implementation of traditional monetary policy.
Ravi Menon, the Managing Director of the MonetaryAuthority of Singapore (MAS), has recently underscored the noticeable transformation in the monetary landscape, highlighting central bank digital currencies (CBDCs), tokenized bank liabilities, and regulated stablecoins emerging as key components.
At the recent GDEC 2023 conference, Ravi Menon, Managing Director of the MonetaryAuthority of Singapore (MAS), critiqued Bitcoin and similar digital currencies, questioning their viability as a form of money ... Further delving into Menon’s vision, he anticipates a future monetary system comprising three main components.
Monetary policy in the country moved into a tightening mode in May 2022 amidst ... The article has been authored by Yuvraj Kashyap, Avnish Kumar, Anand Prakash and Shubhangi Latey of Monetary PolicyDepartment. The RBI said the views are of authors and not of the central bank.