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Published in:
2013 | OriginalPaper | Chapter
Monetary Policy
Author : Dimitris N. Chorafas
Published in: The Changing Role of Central Banks
Publisher: Palgrave Macmillan US
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Developing a monetary policy for the country is the central bank’s most important duty. It sets the beat of the economy, impacts the currency’s foreign exchange, could (but should not) fire up inflation, and affects income and expenditures, particularly in the private sector. It does all that by influencing the stock of money as well as the cost and availability of borrowed funds through interest rate(s).