In general, central banks oversee an economy's currency and control things like interest rates. The U.S. has the Federal Reserve. The U.K. has the Bank of England. Fiji has the Reserve Bank of Fiji.
And the European Union has the European Central Bank.
Just as the Fed controls the flow of U.S. dollars, the ECB controls the euro. It also acts as a regulator for the EU, including setting interest rates. Its stated objective is to maintain price stability within the Eurozone, which basically means avoiding high inflation (and preventing deflation).
The ECB's main decision-making body is called the "Governing Council." It is headed by the President of the Bank (the approximate equivalent of the Chairman of the Federal Reserve). The president is part of the six-person Executive Board (all of whom also sit on the Governing Council). They are joined by governors of the National Central Banks, representing the countries within the Eurozone.
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Finance: What is LIBOR?21 Views
Finance allah shmoop what is a lie Boer No it's
not the result of these two zoo animals Mating lie
Boer stands for london interbank offering rate And it's basically
just the british quote fed unquote central bank rate reflecting
the absolute lowest interest rate at which the british banking
system well loan money to its best Most well heeled
customers like you know sainsbury's and bp and barclays and
the guy who plans royal weddings So library is the
best or cheapest rate at which the british banking system
will lend money Most loans come at some premium to
lie before i risk your loans might come in something
like on a live or plus fifty basis points or
something like that so that if lie boris currently quoted
at two point two five percent interest well then the
lie bore plus fifty loan would be loaned out at
two point seven five percent interest And libras important has
been around forever and much of the world uses it
as thie pegging number two then add some risk percentage
on top of it when they quote loans to whoever
they're loaning money to That's basically it No need for 00:01:08.819 --> [endTime] any wild animals teo you know get wild
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