What is MONETARY AUTHORITY? What does MONETARY AUTHORITY mean? MONETARY AUTHORITY meaning - MONETARY AUTHORITY definition - MONETARY AUTHORITY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
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In finance and economics, a monetary authority is the entity which controls the money supply of a given currency, often with the objective of controlling inflation or interest rates. With its monetary tools, a monetary authority is able to effectively influence the development of the short-term interest rates for that currency, but can also influence other parameters which control the cost and availability of money.
Generally, a monetary authority is a central bank with a certain degree of independence from the government(s) and its political targets and decisions. But depending on the political set-up, governments can have a...