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In most western democracies the central bank is independent from the government. This is designed to prevent political interference in monetary policy. Generally a government specifies with legislation the general aims of the central bank (usually maintaining a low level of inflation) but the day-to-day operations of it are immune from political pressure (in principle if not always in practice).<ref name="state.gov"/>
In most western democracies the central bank is independent from the government. This is designed to prevent political interference in monetary policy. Generally a government specifies with legislation the general aims of the central bank (usually maintaining a low level of inflation) but the day-to-day operations of it are immune from political pressure (in principle if not always in practice).<ref name="state.gov"/>
==See also==
*[[Federal Reserve]]
==References==
==References==
{{reflist}}
{{reflist}}
[[Category:Economics]]
[[Category:Economics]]