The Eurosystem and the European System of Central Banks will coexist as long as there are member states of the European Unión ___ the euro zone

One of the key tasks of the European Central Bank is to direct ___ exchange operations

In December ___ the European Central Bank decided, in conjunction with the Federal Reserve, under a program called "Auction Mandate", to facilitate the improvement of the liquidity of the dollar in the eurozone to stabilize the money market

Credit accounts are among the ___ operations of commercial banks

In ___ the bank allows the customer a credit for a certain period of time and up to a certain amount, forcing the customer to pay a commission and return the desired amounts within the stipulated time limit

The ___ market is that part of the capital markets that deals with the issuance of new securities

Accuracy in a share price may ___ agency costs

Monetary policy is based on the relationship between the ___ rates in an economy, (which is the price at with money can be borrowed), and the total money supply

An expansionary policy ___ the interest rate

If private agents (consumers and businesses) believe that politicians are committing to lower inflation, they will anticipate prices to be ___ than otherwise possible

One of the forms of monetary policy that existed for many centuries was the decisions ___ paper money to create credit

With the creation of the Bank of England the idea of monetary policy as ___ of executive action began to be established

The establishment of central banks by industrialized nations was then associated with the desire to keep nations tied to the gold standard, and to trade in a narrow band with other gold-backed currencies. To achieve this goal, central banks, as part of the gold standard, began to set the ___ rates that they charged their own borrowers and other banks that required liquidity

The Bank of Spain was born with the transformation of Banco de ___ into a Central Bank

Cass Business School Research has also suggested that perhaps central bank ___ policies are causing the economic cycle

A ___ group of people (economists) advocates a return to the gold standard

Many economists disagree with a return to the gold standard. Financing of the economy, both from the public and private sectors, would be limited by the amount of ___ available

If the commercial bank discount or overdraft rate at the Central Bank is low enough, commercial banks can ___ central bank to meet the cash ratio and use the additional liquidity to expand their balance sheets, increasing the credit available to the economy

If a central bank buys foreign currency (to countreact the appreciation of the exchange rate), the monetary base will increase. Therefore, to sterilize this increase, the central bank must also ___ public debt to contract the money base by an equal amount

In Spain, the Central Bank has been independent since ___, before joining the euro

___ developing countries have deep markets for public debt

To institute a monetary authority that maintains a fixed exchange rate with a currency, or to adopt dollarizarion, ___ the hands of the interference government and, it is hoped, that such policies will import the monetary policy of the subject nation

___ market operations can be used to achieve an interest rate target

In the ___, several countries used an approach based on constant growth in the money supply

Under dollarization, foreign currency (usually the US dollar, hence the term dollarization) is used freely as a means of exchanging ___

By raising interest rates under its control, a monetary authority can ___ the money supply