Central bank mandates differ between advanced and emerging economies
Emerging economy central banks more likely to have financial stability mandate
Central Banking’s Governance Benchmarks 2021 reveal some significant differences in the tasks that central banks are mandated to perform. Thirty-four central banks responded, 19 of which are in emerging market economies and 15 in advanced economies, as designated by the International Monetary Fund.
A majority of central banks are tasked with implementing monetary policy and financial stability (94%), but only 74% reported they set monetary policy. Less than half are mandated to set the
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