UK Monetary Policy: Reforming Inflation Targets and Future Plans

This essay provides a comprehensive analysis of the United Kingdom's monetary policy, focusing on money target policies, inflation, and interest rates from 2016 to 2018. It investigates whether the UK's monetary policy should be reformed and explores the potential benefits of a higher inflation target. The essay applies relevant economic theories and includes graphs and tables to support the analysis. Furthermore, it examines the government's plans to address these issues in the future, offering insights into the potential direction of UK monetary policy.