Boards or committees tend to set monetary policy
Some central banks set the same monetary policies as part of supra-national institutions
Twenty-four out of the 34 central banks that replied to the governance benchmarks answered that a board or committee has final authority on monetary policy decisions. Nine central banks are members of the European single currency: each national governor sits on the European Central Bank’s governing council, voting on monetary policy decisions alongside the ECB’s most senior officials. One central bank indicated that monetary policy is set in another way.
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