How does monetary policy affect the economy? We know that monetary policy has an important effect on the behaviour of the economy (e.g., income, employment, investment). Most theories of how exactly this happens rely on nominal rigidity in wages and (or) prices.
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The answer, according to the American Bankers Association, or ABA, isn't zero. Nor is it between $60 and $180 per year. In fact, the ABA says, the annual cost of a checking account is actually $250 to $300.Of course, that's not the cost to the banking customer.Rather, it's the expense the bank incurs to maintain that account for that customer for one year, and it's a figure that tries to suggest banks lose money on most of these accounts.n fact, the cost of opening an account runs between $150 and $200, and the yearly cost of maintaining an account runs between $250 and $300.