Question

Define central bank.​

Answer 1

A central bank is a financial institution given privileged control over the production and distribution of money and credit for a nation or a group of nations. In modern economies, the central bank is usually responsible for the formulation of monetary policy and the regulation of member banks.

Answer 2

An institution that manages the currency and monetary policy of a state of formal monetary union and over sees a banking system. The Federal Reserves are in control of these banks

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