The Bundesbank had to use monetary measures to offset the inflationary effect.

"There appears to be no need, at present, for restrictive monetary measures," the Administration budget said in its "Economic Outlook."

One reason is that Merkel knows full well that "special monetary measures" would cause the patience of German voters to snap.

West Germany's Bundesbank approved today a package of monetary measures including a half-point cut in its basic interest rate, to 3 percent.

The letter listed a series of monetary and fiscal measures deemed a "shock program" to end hyperinflation and promote a market economy.

The two broadest monetary measures, M-2 and M-3, also posted increases, the Fed said.

West Germany's Bundesbank announced several monetary measures, including a cut in its basic interest rate, to 3 percent.

Osborne's Bloomberg speech shows that he believes, on the other hand, that greater emphasis should be placed on monetary measures to stimulate the economy.

The United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human and physical assets.

Because these monetary measures and the offset measures being debated here are only necessary for areas and products to which intervention is applied.