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Monday, January 13, 2014

Target Monetary Programming of BB: M2 vs. M3

Habibur Rahman writes on the effectiveness of M2 and M3 in the monetary programming of Bangladesh Bank (BB). In precisely, he examines whether the use of M3 instead of M2 in the BB's monetary programming would provide any better outcome in terms of: (i) explaining CPI inflation and (ii) reducing errors while targeting monetary growth.

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