What do central banks do?

Central banks, like the Bank of England, the European Central Bank, the Federal Reserve in the US, have been in the news a lot lately. Why? Because they have been messing with interest rates. But when they’re ot doing that, what’s their day-to-day job. Prof Steve Keen explains how the most important role of central banks is acting as the bank for commercial banks, like Lloyds and Barclays.

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