a very annoying catch phrase, normally said by immature freshmen, that is used to down-play the fact that the speaker of the phrase isn't as good at something as they claim they are. It is also used to annoy the crap out of everyone around them because the speaker could not think of something more intelligent to say.
In the European Union, the EUROPEAN CENTRAL BANK (ECB) is responsible for monetary policy in general and for setting interest rates in particular for member countries of the ECONOMIC AND MONETARY UNION (EMU). The ECB has committed itself to a âtarget'for INFLATION of no more than 2% per annum.
Monetary policy is not the same as fiscal policy, which is carried out through government spending and taxation. To understand monetary policy, it is important to understand a bit about the Federal Reserve, which is the central bank of the United States. The Federal Reserve is a bank for banks. It has several branches around the U.S. hold deposits for and lend to banks.