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Moneyextra.com Dictionary
Bundesbank
The German central bank was set up in 1957 and given full independence to set interest rates - comparable independence is enjoyed by the Bank of England . Because of Germanys uncomfortable memory of the hyperinflation of 1923 the Bundesbank was given an exceptional degree of independence from the government in its role of safeguarding the value of the currency and therefore in its ability to set interest rates as it chooses. See also German interest rates . ©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com