A Central Bank is an apex bank of a particular country responsible for managing the monetary policies and allied matters of that country. In some case, a Central Banking Authority may look after these affairs of a group of states like members of the European Union. A Central Bank looks after the stability of currency of its country and manages the money supply. It has several other roles too, and some of them are presented in a separate section.
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Activities and responsibilities
Some of the major activities and responsibilities of the Central Bank of a country include;
- Implementing the monetary policy
- Issue of banknotes
- Acting as the Government's banker, and the bankers' bank, that is, the Lender of Last Resort
- Management of the country's foreign exchange and gold reserves and the Government's stock register
- Regulation, control and regulation of the Banking Industry of the country, and sometimes similar types of entities
- Deciding the official interest rate, and presenting and ensuring implementation of the same
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