Under a Currency Board,a Nation's Central Bank

Multiple Choice

Under a currency board,a nation's central bank

A) raises or lowers interest rates to keep the exchange rate fixed
B) consults with the central banks of other nations to agree upon monetary policy
C) operates according to a strict policy rule regarding money supply growth
D) uses exchange rates as an intermediate policy target and the inter-bank lending rate as an ultimate target
E) serves as the lender of last resort for the banking system