MORAL SUASION
\mˈɒɹə͡l swˈe͡ɪʒən], \mˈɒɹəl swˈeɪʒən], \m_ˈɒ_ɹ_əl s_w_ˈeɪ_ʒ_ə_n]\
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Monetary policy governmental guidance as a tool to persuade financial institutions to follow suggested guidelines on the availability and cost of credit, instead of lawmaking power to mandate. Before mandatory compliance through statutory regulations, moral suasion plays through policy announcements to induce a desired response.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.