FUNCTIONS OF THE BANK
What are the Functions of the Bank?
To carry out successfully its policy and to fulfil the objectives, the Central Bank performs the following functions:
- Determine and implement monetary policy
- Implement policies for the management of the exchange rate
- Hold and manage all the official international reserves of Barbados
- Issue and manage currency
- Act as a lender of last resort to financial institutions
- Collect and produce economic and financial statistics
- Regulate and promote a safe, sound and efficient payment and clearing system
- Adopt and implement macro-prudential policy measures to promote financial stability
- Act as a prudential regulator in accordance with the Financial Institutions Act, Cap. 324a
- Act as a fiscal agent and financial advisor to the Government
- Carry out any ancillary activities which are related to the exercise of its functions under this act