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PPGPortal > Home > Concept Dictionary > B, C > Central Bank

Central Bank 

The institution that manages the monetary system of a particular country.

(Peter Dungan, Toronto PPG1002H and Mankiw, N. Gregory, Ronald Kneebone, Kenneth J. McKenzie and Nicholas Rowe. 2008. Principles of Macroeconomics, 4th Canadian ed. Toronto: Thomson Nelson.)


In most industrialized market economies, the central banks are at least partially independent of the national government. For example, in Canada, the Bank of Canada is a “crown corporation” and the governor is free to make his own decisions without interference by the ruling political party.


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