In Nigeria, for example, the central bank plays a significant role in providing finance to the agricultural sector. How multiple developmental needs are dealt with differs from country to country. As is often the case when it comes to policy prescription, there is no ‘one size fits all’ solution.
The integration of these markets is closely correlated with the degree of integration of the underlying payment infrastructure. Thus, the effective transmission of the single monetary policy throughout the euro area, the depth and liquidity of financial markets, and the resilience of the European financial system as a whole depend to a considerable extent on the integration of the payment infrastructure.