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central bank oversees the monetary system for a nation -- or a group of countries in the case of the European Central Bank. Its responsibilities typically range from overseeing monetary policy to implementing specific goals such as currency stability, low inflation and full employment. Central banks also generally issue currency, act as the government's banker, regulate the credit system through steering or setting interest rates, oversee commercial banks, manage exchange reserves and act as a lender of last resort. Central banks have varying degrees of independence from government and many share or split some of the above duties with a finance ministry or a financial regulator.

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13y ago

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