Central banks are responsible for the monetary policy and for maintaining the stability of the currency and the money supply, among other things.
The most important are:
European Central Bank
It is responsible for the monetary policy of the countries members of the Eurozone. It was established by the European Union in 1998 and has its headquarters in Frankfurt, Germany.
Only the European Central Bank can set interest rates for the Eurozone and authorize the issuance of euro banknotes. Its main objective is to maintain price stability and low inflation, currently having as a goal to keep it below 2%.
Bank of Japan (Nihon Ginko)
The Bank of Japan is located in Nihonbashi, Tokyo, and it issues and manages banknotes, implements the monetary policy and ensures the stability of the financial system, among other things.
Bank of England
It is the central bank of the United Kingdom. It was established in July 1694 and it is located at Threadneedle Street, London EC3, UK since 1734.
The Bank of England is a state-owned institution since 1946. Its most important function is to maintain price stability and promote economic growth.
It issues banknotes since 1694.
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