Examples of using Single monetary in English and their translations into Hungarian
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We have a single monetary policy.
There is a need to bring more coordination to the tax policies ofMember States in the euro area to complement the single monetary policy of the ECB.
The single monetary policy in the euro area.
When the euro was introduced,we knew that we would not have a single monetary and fiscal policy, as is normally the case in individual states.
A single monetary policy, conducted by the European Central Bank(ECB), combined with national yet coordinated fiscal policies ensures macroeconomic stability.
People also translate
These countries form the euro area and, as well as the single currency, have a single monetary policy conducted by the European Central Bank.
To help present the stance of the single monetary policy( see Chart 3) in the context of changing circumstances and challenges, it is useful to distinguish five phases.
NCBs'investment operations in foreign financial markets arenot subject toprior authorisation since they do not affect the single monetary andexchange rate policy of the ECB.
The conduct of the single monetary policy by the Eurosystem is successful.
It defies reason to have a single monetary(and budget) policy and 17 different debt policies.
The first article assesses the relevance of regional divergence within a monetary union for economic policies,with a focus on the implications of differentials in inflation rates for the single monetary policy in the euro area.
Overall, thanks to the ECB's measures the single monetary policy in the euro area, which was inhibited during the crisis, has now been restored.
On 1 January 1999 the third and final stage of EMU commenced with the irrevocable fixing of the exchange rates of the currencies of the 11 Member States initially participating in Monetary Union andwith the conduct of a single monetary policy under the responsibility of the ECB.
To prepare a range of instruments and procedures for the conduct of the single monetary policy in the future euro area and to analyse potential monetary policy strategies;
Furthermore, the ECB's single monetary policy is made more difficult by differences and imbalances between the economies of the euro area countries, in the absence of corrective EU measures.
The USA is anexample of a generally effective monetary union, with a single monetary authority(Fed) working alongside a single fiscal authority(the government).
The ECB 's single monetary policy cannot directly address growth and inflation differentials, rather it contributes to the smooth functioning of EMU by maintaining price stability in the euro area as a whole.
The ECB has the authority toestablish the necessary guidelines to implement the Eurosystem 's single monetary policy and the NCBs have an obligation to act in accordance with such guidelines.
In order to avoid that ELA interferes with the ECB's objectives, there are a number of safeguards, depending on the size of the envisaged support, which may even lead to the prohibition of theexecution of the operations if they are deemed to interfere with the single monetary policy of the Eurosystem.
Its involvement depends on the tasks concerned andranges from the representation of policy positions(single monetary policy) to the formulation of the ECB's own positions alongside those of other policy-makers in the European Union.
The first step towards creating the ECB was the decision, taken in 1988, to build an Economic and Monetary Union: free capital movements within Europe,a common monetary authority and a single monetary policy across the euro area countries.
Recent changes to the definition and implementation of the Eurosystem 's single monetary policy need to be reflected appropriately by replacing Annex I to the ECB Guideline on monetary policy instruments and procedures of the Eurosystem that is currently in force.
CONCLUDING REMARKS With the creation of the European Economic and Monetary Union( EMU)a new institutional setting and a single monetary policy framework designed to achieve price stability were established.
( 1) Achieving a single monetary policy entails defining the instruments and procedures to be used by the Eurosystem, consisting of the national central banks( NCBs) of Member States that have adopted the euro( hereinafter the participating Member States) and the European Central Bank( ECB), in order to implement such policy in a uniform manner throughout the participating Member States.
Moreover, in January 1997 the EMI published a report outlining thespecification of the ESCB 's operational framework for the conduct of the single monetary policy, pursuant to the Treaty requirement that this framework be specified by 31 December 1996 at the latest.
On 1 January 1999 the third and final stage of EMU commenced with the irrevocable fixing of the exchange rates of the currencies of the 11 Member States initially participating in Monetary Union andwith the conduct of a single monetary policy under the responsibility of the ECB.
Concurrently with the foregoing, and as provided in the Constitution and in accordance with the procedures set out therein, these activities shall include a single currency, the euro,and the definition and conduct of a single monetary policy and exchange-rate policy, the primary objective of both of which shall be to maintain price stability and, without prejudice to this objective, to support general economic policies in the Union, in accordance with the principle of an open market economy with free competition.
Concurrently with the foregoing, and as provided in this Treaty and in accordance with the timetable and the procedures set out therein, these activities shall include the irrevocable fixing of exchange rates leading to the introduction of a single currency, the ecu,and the definition and conduct of a single monetary policy and exchange-rate policy the primary objective of both of which shall be to 4.

