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Central Banks' Policy Objective: Overcoming Obstacles and Creating a Prospective Environment for Economic Growth
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Author(s): Dharmesh Dhabliya (Vishwakarma Institute of Information Technology, India), Ankur Gupta (Vaish College of Engineering, India), Sukhvinder Singh Dari (Symbiosis International University, India), Ritika Dhabliya (Yashika Journal Publications Pvt. Ltd., India), Anishkumar Dhablia (Altimetrik India Pvt. Ltd., India), Nitin N. Sakhare (BRACT'S Vishwakarma Institute of Information Technology, India)and Sabyasachi Pramanik (Haldia Institute of Technology, India)
Copyright: 2024
Pages: 13
Source title:
Recent Developments in Financial Management and Economics
Source Author(s)/Editor(s): Abdelkader Mohamed Sghaier Derbali (Taibah University, Saudi Arabia)
DOI: 10.4018/979-8-3693-2683-1.ch001
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Abstract
By using instruments like monetary policy, guarantees of financial stability, and regulatory frameworks, central banks play a crucial role in shaping a country's economic trajectory. This study examines the strategic vision of central banks and how their functions have changed throughout time. It explores the complex issues they deal with as well as their function in promoting economic growth and balance. The chapter explores how central bank tactics are affected by advances in technology and the increasing interconnection of economies. These elements highlight how vital it is that these organisations foster flexibility and welcome new ideas. In order to promote resilience and sustained growth, central banks must carefully adjust their policies as the economy changes. This study basically emphasises how important it is for central banks to have a strategic vision in order to take advantage of opportunities, deal with obstacles, and steer the economy towards prosperity in the face of a constantly shifting global environment.
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