The twentieth century has seen the rise of modern central banking. At its close, it is also witnessing the first steps in the decline of the role of some of the

This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, i

Provides new analysis of the spread of central banking beyond Western Europe and North America in the 1920s and 1930s.

Central banks were not always as ubiquitous as they are today. Their functions were circumscribed, their mandates ambiguous, and their allegiances once divided.