The activities of the Central Bank of Ireland are managed and controlled by the:

• A. European Central Bank
• B. European Commission
• C. Central Bank Commission
• D. Minister for Finance

Answer: (C)

Central bank governance and independence are being tested here. National central banks operate within the Eurosystem, but their day-to-day management is handled by their own internal governing body. The activities of the Central Bank of Ireland are managed and controlled by the Central Bank Commission, a board-like body that includes the Governor, Deputy Governors, and other members appointed under law. This Commission sets strategy, oversees operations, and ensures the bank fulfills its mandate with independence from political control. The European Central Bank coordinates euro-area policy and works with national banks, but it does not directly run Ireland’s central bank. The Minister for Finance and the European Commission do not administer the bank’s daily activities. So, the controlling body is the Central Bank Commission.