Which of the following is an instrument of monetary policy?

1. Government expenditure
2. Taxation policy
3. Bank rate
4. Statutory liquidity ratio
5. Cash reserve ratio

C, D and E

With the help of monetary policy, money supply in the economy can be controlled in the following ways:

• Quantitative: Bank rate, repo rate, reverse repo rate, open market operations, CRR, SLR etc.
• Qualitative : Imposing margin requirements, moral suasion etc.

Government expenditure and Tax rate are linked with fiscal policies.