Rule-Based Monetary Policy

Rule-Based Monetary Policy

A monetary policy in which a jurisdiction rarely or never deviates from established norms. A rule-based monetary policy does not make exceptions based upon extenuating circumstances.
References in periodicals archive ?
Instead, Taylor advocates rule-based monetary policy, control of federal debt, and scaling back entitlement programs.
He favors a rule-based monetary policy to stabilize the growth of nominal income and achieve long-run price stability.