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But of course it did not stop the monetary authorities from trying.
He described the monetary authority as "doing a good job."
It will, of course, remain an independent central monetary authority.
Like other central banks, it is the principal monetary authority of the country.
Not everyone believes the dollar is going to fall further, including monetary authorities around the world.
"This should be done by the Palestinian monetary authority, which does not exist."
Here, monetary authorities should expand the money supply and let interest rates fall.
The monetary authorities understand that their hegemony will only last for a time.
In effect, the world's monetary authorities have decided that for the moment at least, the cure is worse than the disease.
He and others argue that the monetary authorities will continue to rely on intervention.
Traders here are nervously waiting for two potential moves by monetary authorities.
Established in 1994, it serves as both a monetary authority and a commercial bank for the territory.
The two bank groups said they would notify Spain's monetary authorities of the decision early next week.
In short, the markets believe the monetary authorities are going to blink."
Accordingly, they can be ignored by monetary authorities seeking to control the overall price level.
Traders and investors say they see little prospect that monetary authorities can turn the situation around.
While the economy went to dogs, our monetary authorities went to sleep.
We do not expect you to publish the names and the voting records of people within the monetary authorities.
For example, he said, Japanese monetary authorities have kept interest rates high to fight inflation, although this policy has hurt stocks.
Thai monetary authorities hope the relaxation will encourage a return of foreign investment to the country.
Rather, it is a sinking currency, and nor do they have confidence in the European monetary authorities.
The monetary authority does this by buying or selling financial assets (usually government obligations).
Monetary authorities have varying degrees of autonomy from the governments that create them.
It said monetary authorities face a difficult choice between further tightening and waiting to see the effectiveness of their earlier actions.
Few had expected the monetary authorities to cut rates for a fifth time since December after earlier reports indicated a pickup.