Medium-Term Financial Strategy (MTFS)
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The policy adopted by the UK government in 1980 of controlling inflation by embarking on a long-term programme of steady reductions in government borrowing and in the rate of growth of the money supply. This self-imposed constraint on policy-making involved a target range for the growth of sterling M3 falling by 1 per cent each year. The policy continued until 1987 and was replaced by shadowing Deutschmark.
Reference: Oxford Press Dictonary of Economics, 5th edt.
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