Monetary policy in the EU countries who are members of the Eurozone is under the control of the:

• A. European Commission
• B. European Central Bank
• C. National central banks of each individual country
• D. International Monetary Fund

Answer: (B)

Monetary policy for euro-area countries is centralized in one institution—the European Central Bank. The ECB sets the policy stance, determines key interest rates, and conducts open-market operations to steer money supply and inflation across the euro area. It operates together with the national central banks as the Eurosystem, and while those national banks implement ECB decisions in their countries, they do not set policy independently. The European Commission does not control monetary policy; its role is legislative and regulatory within the EU. The International Monetary Fund is an international lender and adviser, not a policymaking authority for the euro area.