Performance of the British Government and the Bank of England in Essay

Performance of the British Government and the Bank of England in Running the British Economy between November 2008 to November 2010 - Essay Example This research paper talks about how successful the British Government and the Bank of England was able to control UK Economy in spite of the the challenges were present in the global economic condition, displays events that took place in Great Britain between November 2008 and November 2010 as confirmation of its forehanded economy. 'Performance of the British Government and the Bank of England in Running the British Economy between November 2008 to November 2010' is the best example of comparison the historical trends of Gross Domestic Product (GDP), unemployment rate, balance of payment, and price stability (in particular inflation rate, Consumer Price Index (CPI), and GDP Deflator) over determined period of time. This essay also examines the most important macroeconomic policies used by the British Government and the Bank of England to success its economy: fiscal policy - the Her Majesty's Treasury on behalf of the British government is aiming at being able to maintain a sound mac roeconomic condition by maintaining a low level inflation rate and monetary policy that means the Bank of England can control the country's money supply and interest rates in order to maintain a maximum level of employment, a stable price and avoid high inflation rate by controlling the interest rates. Using such strategy make able to the British government of creating a better quality life-style for the local citizens by controlling, restructuring, and imposing fair taxes to low income earners.