In recent years, monetary policy has been attracting greater attention, and this is indeed welcome. However, it is only one aspect of central banks, and I hope that banking operations performed by central banks as "the bank for banks," their other aspect, will gain more recognition.
Graph 1 also shows that European bank share prices have fared worse than those in other parts of the world. Volatility has also been very high at times, with some banks in Europe recording intraday share price movements of 20 per cent!