Country with no central bank?


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soo does any know if there is a DEVELOPED country out there that does not have a central bank...?


Answer (1):

csanda

While some developed countries do not have an officially named central bank, all developed countries have a de-facto central bank.

For example, the US does not have an official Bank of USA that handles all the monetary issues, the roles are subdivided amongst various branches. The biggest role is taken by the US Federal Reserve, which controls overnight rates, discount window rates and open market operations on bonds.

Many other developed countries (eg, Singapore, New Zealand) have the Finance Ministry take care of that role.

So those that follow monetary policies (like I do) listen to true central banks (eg, ECM, BoE, RB Australia) as well as de-facto central banks (eg, US Fed, Singapore MOF).


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