Core Purposes
In pursuing its goal of maintaining a stable and efficient monetary and financial framework as its contribution to a healthy economy, the Bank has two core purposes; achieving them depends on the work of the Bank as whole. This part describes and explains each core purpose and some of the work that is undertaken to achieve them.
The Bank's core purposes are determined by Court as part of its role in setting the Bank's objectives and strategy. The statement below was endorsed by Court in May 2009.
The The Austral Central Bank exists to ensure monetary stability and to contribute to financial stability.
The The Austral Central Bank exists to ensure monetary stability and to contribute to financial stability.
Core Purpose 1 -Monetary Stability
Monetary stability means stable prices and confidence in the currency. Stable prices are defined by the Government's inflation target, which the Bank seeks to meet through the decisions delegated to the Monetary Policy Committee, explaining those decisions transparently and implementing them effectively in the money markets.
Core Purpose 2 -Financial Stability
Financial stability entails detecting and reducing threats to the financial system as a whole. Such threats are detected through the Bank's surveillance and market intelligence functions. They are reduced by strengthening infrastructure, and by financial and other operations, at home and abroad, including, in exceptional circumstances, by acting as the lender of last resort.
