Keskuspankkeja

Keskuspankkeja are central banks, which are financial institutions that manage a state's or group of states' currency, money supply, and interest rates. Their primary mandate typically involves maintaining price stability, defined as low and stable inflation, and ensuring the stability of the financial system. Keskuspankkeja are usually independent of the government, meaning they can make monetary policy decisions without direct political interference.

The key functions of a keskuspankki include issuing currency, acting as a lender of last resort to commercial banks, and overseeing the payment system. They also conduct monetary policy through various tools, such as setting benchmark interest rates, conducting open market operations, and setting reserve requirements for commercial banks. These actions influence the cost of borrowing and the overall availability of credit in the economy, thereby impacting inflation and economic growth.

Examples of prominent keskuspankkeja include the European Central Bank (ECB) for the Eurozone, the Federal Reserve System (the Fed) for the United States, and the Bank of England for the United Kingdom. Each keskuspankki operates within its specific economic and legal framework, but their core objectives of economic stability and price control remain consistent. The actions of keskuspankkeja have a significant impact on both domestic and global economies.