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inflation targeting (E5)<br />Setting as the goal for a CENTRAL BANK the achievement of price inflation at or below a prescribed rate. New Zealand in 1990 was the first to adopt this policy; Canada, the UK, Sweden and Australia were next to adopt targeting. In the USA the FEDERAL RESERVE under the EMPLOYMENT ACT 1946 has a broader remit which includes both economic growth and the control of inflation.<br /><em>See also:</em> Monetary Policy Committee (UK)
overnight money (E4)<br />Short loans of one to three days' duration by banks to the money market. In London this is the major source of finance of the DlSCOUNf HOUSES.
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right-to-work state (J5)<br />US state which has made it illegal to require a worker to join a us LABOR UNION. Most of these twenty states are in the South.<br /> ringfencing (H5) see earmarking
free market (D4)<br />A market in which buyers and sellers are free to contract on whatever terms they wish without governmental interference.
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