Free banking delivered fewer banking crises, and more stability in the wider economy, it claimed. MPC (ASI) proposes scrapping The Bank of England Monetary Policy Committee ( ASI ), and instead use quantitative easing instead of interest rates to conduct normal monetary policy, and abandon the existing inflation target in favour of targeting nominal Gross Domestic Product (GDP). Monetary Policy Committee was accused by ASI director, Eamon Butler , of doing a "very poor job of managing our money" and creating "artificial booms, followed by genuinely painful busts, through today of following their unreliable discretion".
MPC (ASI) proposes scrapping The Bank of England Monetary Policy Committee ( ASI ), and instead use quantitative easing instead of interest rates to conduct normal monetary policy, and abandon the existing inflation target in favour of targeting nominal Gross Domestic Product (GDP). Monetary Policy Committee was accused by ASI director, Eamon Butler , of doing a "very poor job of managing our money" and creating "artificial booms, followed by genuinely painful busts, through today of following their unreliable discretion".