central bank functions

central bank functions
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Storyboard Description

Nadya part

Storyboard Text

  • This a central bank. It's the centre of the banking system
  • Central Bank
  • This is where we print new notes and coins to replace the ones that are worn out.
  • Other than printing money, central banks also have a store of gold and foreign currencies.
  • But why though? Why foreign currencies?
  • Foreign currencies can be used to stabilise the value of the national currency. When the national currency depreciates, the central bank will use their storage to buy up the national currency.
  • Not only that, we also manage the monetary policy, it's usually the job of the finance minister, but we can do it too.
  • Wow... That's cool!
  • Central banks can manage the monetary policy by changing interest rates. It can be increased to limit the growth in consumer spending when inflation rate is too high, or vice versa.
  • Mr. Manager, the central bank has increased its interest rate
  • Oh, we'll have to change our interest rate too then.
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