The central bank (also sometimes referred to as the reserve bank or monetary authority) is the entity responsible for the monetary policy of a country or of a group of member states. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a "bailout" lender of last resort to the banking sector during times of financial crisis. Most wealthy countries today have an "independent" central bank-that is, one which operates under rules designed to prevent political interference.
Central Bank Responsibilities
- Implementation of monetary policy
- Controls the nation's money supply
- Acts as the government's banker as well as the bankers' bank ("lender of last resort")
- Manages the country's forex and gold reserves, as well as the government's stock register
- Sets the official interest rate, used to manage both inflation and the country's exchange rate
Central Banks of "The Majors"
Below is a list of central banks for several of the world's major currencies:Bank of Canada - http://www.bankofcanada.ca/
Bank of England - http://www.bankofengland.co.uk/
United States Federal Reserve - http://www.federalreserve.gov/
Swiss National Bank - http://www.snb.ch/
Bank of Japan - http://www.boj.or.jp/
Reserve Bank of Australia - http://www.rba.gov.au/
Reserve Bank of New Zealand - http://www.rbnz.govt.nz/
European Central Bank - http://www.ecb.int/
