Central banking

NACE code 64.11 covers the activities of central banks. Central banks play a crucial role in the broader economy, responsible for implementing monetary policy, managing the national currency, and overseeing the financial system. As the monetary authority, central banks work to maintain price stability, promote economic growth, and ensure the smooth functioning of the banking sector and financial markets.

The primary activities of central banks include setting interest rates, managing the money supply, and regulating the banking system. Central banks use various monetary policy tools, such as open market operations, reserve requirements, and lending facilities, to influence economic conditions and achieve their policy objectives.

Central banks require a range of inputs to carry out their functions, including skilled personnel with expertise in economics, finance, and banking; advanced data analysis and information technology systems; and access to financial markets and institutions.

The outputs of central banking activities include monetary policies, regulations, and oversight that impact the broader economy. The decisions and actions of central banks can influence the availability and cost of credit, inflation rates, exchange rates, and the overall stability of the financial system. Other NACE codes that may consume the outputs of central banking include 64.19 Other monetary intermediation, 66.11 Administration of financial markets, and 66.12 Security and commodity contracts brokerage.