Four in 10 central banks have legal right to be consulted on mandate changes

Most have legal restrictions on their ability to use monetary financing to fund the government

Less than half the central bank respondents to the Governance Benchmarks 2021 said they have to be consulted on new laws that alter their functioning.

Though all respondents said their roles, responsibilities and objectives are codified by statute, just four in 10 said they have the legal right to influence legislation that affects their mandates.

By contrast, the vast majority – 97% – of responding central banks said the way they are held accountable is enshrined in law, while 94% reported

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