Bank of Italy Act

The Bank of Italy Act, established in 1893, created the central bank of Italy, responsible for managing the country's monetary policy, issuing currency, and ensuring financial stability. It serves as the banking regulator, overseeing commercial banks and maintaining public confidence in the financial system. The Act aims to promote positive economic growth and control inflation. In essence, the Bank of Italy plays a crucial role in shaping Italy's economy, similar to other central banks worldwide, such as the Federal Reserve in the United States.