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The central bank which is generally regarded as the most independent in the world because its charter cannot be changed by legislation is the European Central Bank.
What is European Central Bank?
The European Central Bank (ECB) is one of the seven institutions of the European Union and the central institution of both the monetary Eurosystem and the European System of Central Banks (ESCB). One of the most significant central banks in the entire globe, it.
The ECB Governing Council formulates projects for the monetary policy for the European Union with suggestions and recommendations, and to the Eurozone with more direct applications of such policies. It also oversees the management of the foreign exchange reserves of EU member states within the Eurozone, engages in foreign exchange operations, and establishes the EU's common interest rates in addition to other tasks like managing foreign exchange reserves.
Christine Lagarde, a French politician and former director of the International Monetary Fund, currently serves as president of the ECB. The bank's headquarters are in Frankfurt, Germany, and it formerly had a space in the Euro-tower before its new office was built.
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