Central banks play a pivotal role in shaping economic stability by conducting monetary policy and regulating financial institutions. The global financial crisis of 2008-2009, the most severe economic downturn since the Great Depression, highlighted the crucial importance of central banks in maintaining economic stability. This article explores the lessons learned from the global financial crisis and the ways central banks have evolved their strategies to address economic challenges and ensure financial resilience. The 2008 financial crisis exposed vulnerabilities in the global financial system, resulting from a combination of excessive risk-taking, complex financial products, and lax regulatory oversight. The crisis led to severe economic contractions, skyrocketing unemployment rates, and the collapse of major financial institutions. Central banks were faced with the daunting task of stabilizing financial markets, restoring confidence, and reviving economic growth.
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