Series statement taken from dust jacket.

Includes bibliographical references (pages 287-306) index.

A brief look at central banking history -- A brief overview of the international monetary system -- Modern central banking roles and functions: what exactly is a central bank? -- A brief review of modern central banking mandates: what are the goals that modern central banks try to achieve? -- Theoretical foundations of the practice of modern monetary policy -- Monetary policy regimes: what monetary policy rules a central bank can use to achieve monetary stability -- Monetary policy implementation: financial market operations -- The monetary policy transmission mechanism: how changes in interest rates affect households, firms, financial institutions, economic activity, and inflation -- The exchange rate and central banking -- Financial stability: definition, analytical framework, and theoretical foundation -- Financial stability: monitoring and identifying risks -- Financial stability: intervention tools -- Future challenges for central banking -- Future central banking strategy and its execution.

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