[stephen_g]

Central banks don't 'control' the currency supply... Money creation by private bank lending is where most money in modern economies comes from, and adjusting interest rates is such a blunt instrument that they are really powerless to meaningfully control it. Central banks are important for a currency that is stable and usable long-term (if managed properly), but really should be working with the Government to control the money supply through the Government's fiscal measures (taxing and spending) and by prudential (lending) regulation, instead of the current ineffective Monetarist fantasy...