A central bank, reserve bank, or monetary authority is a public institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the nation's monetary base, and usually also prints the national currency, which usually serves as the nation's legal tender. Examples include the European Central Bank (ECB), the Federal Reserve of the United States, and the People's Bank of China.
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Some articles on central bank:
... fabi and Yen currencies issued by the Bank of Chosen and the Bank of Taiwan ... was created, the Japanese founded the Central Bank of Manchou on July 1, 1932 in Changchun (長春), then known as Hsinking (新京) ... While the bank provided commercial functions, it also acted as a central bank and issuer of currency ...
... They have argued that the central bank must ensure that inflation expectations must remain well-anchored, in line with the central bank’s price stability ... Their work documented the benefits associated with a central bank’s numerical price stability objective and the pitfalls of optimal control policy design (Orphanides and Williams, 2008) ...
... towards increasing the independence of central banks as a way of improving long-term economic performance ... while a large volume of economic research has been done to define the relationship between central bank independence and economic performance, the results are ambiguous ... Advocates of central bank independence argue that a central bank which is too susceptible to political direction or pressure may encourage economic cycles ("boom and bust"), as ...
Famous quotes containing the words bank and/or central:
“People get a bad impression of it by continually trying to treat it as if it was a bank clerk, who ought to be on time on Tuesday next, instead of philosophically seeing it as a painter, who may do anything so long as you dont try to predict what.”
—Katharine Whitehorn (b. 1926)
“The central problem of novel-writing is causality.”
—Jorge Luis Borges (18991986)