what is the importance of Central bank in an economy of a country during depression period
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There are three key goals of modern monetary policy. The first and mostimportant is price stability or stability in the value of money. ... Another way to put it is to say that monetary policy is expected to smooth the business cycle and offset shocks to the economy. The third goal is financial stability.
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Economic depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a recession, which is a slowdown in economic activity over the course of a normal business cycle.
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