The economy of a society is more than often a complex balance of the methodology by which the central bank of the country chooses to regulate the flow of money to and from the public. In order to do so, a policy needs be implemented through which the central bank can maintain control over the money that is allowed to flow to and from the public through commercial banks and any similar financial institutions that interact with, or influence the economic framework of the country. This set of rules and guide lines is referred to as the monetary policy exercised by that economy.
The Monetary Policy adopted by a country serves to determine the standing of a country with regard to its economic output, and employment. By regulating the supply of money and the cost at which people can borrow that money, the monetary policy of a country controls demand for goods and services. The Monetary Policy is piloted by the Federal Reserve System, or in most cases, by the central bank. It is essential for a nation to devise and implement a strong economic policy because a failure in the economic policy of a country results in economic contractions and a loss of faith in banking systems amongst the consumers.
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