Question

Functions of the central Bank?​

Answer 1

Answer:

The functions of the central Bank are as follow:

• ensure monetary and price stability.
• issue legal tender currency in Nigeria.
• maintain external reserves to safeguard the international value of the legal tender currency.
• promote a sound financial system in Nigeria.
• act as Banker and provide economic and financial advice to the Federal Government.

Explanation:

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Answer 2

Answer:

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Explanation:

⭐Central banks carry out a nation's monetary policy and control its money supply, often mandated with maintaining low inflation and steady GDP growth. On a macro basis, central banks influence interest rates and participate in open market operations to control the cost of borrowing and lending throughout an economy.

⭐A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a state or formal monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base

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