Evaluate the Effectiveness of the Regulatory Regime in a Selected Market of Your Choice

Topics: Inflation, Central bank, Monetary policy Pages: 4 (1575 words) Published: January 4, 2013
Evaluate the effectiveness of the regulatory regime in a selected market of your choice In this task I will be evaluating the effectiveness of the regulatory regime in a selected market; I will be doing this by identifying a market or industry in the UK business market and researching on the existing regulatory regime governing that particular market. I will also analyse critically how effective it has been implemented and if it is achieving its purpose. I will also discuss its successes and failures and make recommendations as to how it can be more effective. The market that I have chosen to use and show the effectiveness of its regulatory regime is the finance industry. For my industry I will be looking at financial banks, I have chosen to use and show the effectiveness of the Bank of England (BOE). The Bank of England is the central bank of the whole of the United Kingdom, it was established in 1694 to act as the English Government's banker, and to this day it still acts as the banker for HM Government. The Bank was privately owned and operated from its foundation in 1694. In 1997 it became an independent public organization, owned by the Treasury Solicitor on behalf of the Government, with independence in setting monetary policy. The Bank of England has the ability to and has already done so developed responsibility for managing the monetary policy of the country. The regulatory regime for the Bank of England is their interest rates. From time to time there has been a cycle of small changes in the interest rate and have varied year to year increasing immensely at times. The current interest rate for the Bank of England is at 0.5% and has been maintaining this throughout the year since 2009. The Bank of England making decisions with the help of the Monetary Policy Committee prefers a slow gradual approach to monetary policy, believing by making small movements in interest rates is a more effective strategy in achieving their aims. The UK has experienced a...
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