Describe in detail any three functions of the central bank.
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Eight major functions of central bank in an economy are as follows: (1) Bank of Issue, (2) Banker, Agent and Advisor to Government, (3) Custodian of Cash Reserves, (4) Custodian of Foreign Balances, (5) Lender of Last Resort, (6) Clearing House, (7) Controller of Credit, and (8) Protection of Depositor's Interest
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Functions of Central Bank
a)Issue money. ...
b)Lender of Last Resort to Commercial banks. ...
c)Lender of Last Resort to Government. ...
d)Target low inflation. ...
e)Target growth and unemployment. ...
f)Operate monetary policy/interest rates. ...
g)Unconventional monetary policy. ...
h)Ensure stability of the financial system.
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