111.  In practice, governments can also use monetary policy and exchange rate policy to influence the level of aggregate demand.

112.  Monetary policy refers to control of the money supply by influencing the availability and cost of credit.

113.  The scope of monetary policy measures in regulating total expenditure is therefore limited.

114.  This implies that monetary policy is not very powerful as a means of influencing output and employment.

115.  As reflected in recent United Kingdom monetary policy, monetarists contend that there is a direct relationship between the nominal money supply and money national income.

116.  Alone among the major industrial powers, the United States does not make the defense of its currency a leading consideration in framing monetary policy.

117.  Although he thinks his own arrangements for conducting monetary policy take some beating, he is willing to recognize that over the long term euro membership could bring benefits.

118.  Although no one is talking about any alternative monetary policies, the ramifications of keeping the peg are evident in the domestic economy.

119.  Although his speeches normally concentrate on banking systems, he could offer comments to reporters on monetary policy before or after the speech.

120.  Analysts said the Federal Reserve might still feel compelled to raise rates again this year, perhaps as soon as its next monetary policy meeting in July.