Central bank independence

This Bachelor thesis deals with the independence of three central banks, namely the Czech National Bank, the Federal Reserve System and the European Central Bank. The introduction of the theoretical part is devoted to the general definition of central banking and its position within the banking system. The theoretical part continues with a detailed description of individual banks, their institutional structure, organizational structure and ends with the definition of monetary policy tools that banks use to set monetary policy in selected countries. The practical part focuses on the period of the global economic crisis which started in the United States in 2007 and gradually impacted on the entire financial system. The purpose of practical part is to describe and compare the individual measures taken by central banks to respond to the economic conditions and to assess their interdependence.