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    Monetary transmission mechanism is:

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    1. A process by which monetary policy decision are taken and conveyed to the banks for further key rate changes.
    2. A mechanism under which monetary policy of a country is being decided through a process of referendum giving effect to democratic policy making.
    3. A process through which commercial banks asks a central bank to make necessary adjustments to monetary policy to suit their commercial needs as well as changing market needs.
    4. A process by which a central bank's monetary policy decisions are passed on, through financial markets, to businesses and households.
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