Central Banking

This lecture covers the functions and structures of central banks, focusing on the Swiss National Bank and the European Central Bank. It delves into monetary policy tools, transmission mechanisms, and the debate on central bank independence. Emphasis is placed on the implementation of monetary policy, the role of interest rates, and the impact of unconventional policies like negative interest rates. The instructor, Prof. Andreas Fuster, explores the historical context, current practices, and future challenges faced by central banks.