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The Central Bank Monetary policy instrument by which it buys and sells securities is called

Commerce
JAMB 2023

The Central Bank Monetary policy instrument by which it buys and sells securities is called

  • A. open market operation
  • B. bank credit
  • C. cash reserve ratio
  • D. bank rate
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Correct Answer: Option A
Explanation

Open market operations ("OMOs") are the central bank's primary tool of monetary policy. If the central bank wants interest rates to be lower, it buys bonds. Buying bonds injects money into the money market, increasing the money supply.

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