Select a central bank of a country (except the United States of America), and conduct an in-depth research and prepare a report to address the following questions:

1. Describe the structure of the central bank system in this country. (10 marks)
2. How independent is the central bank in this country? (10 marks)
3. In relation to (2), critically evaluate the argument for and against the independence of the central bank. (30 marks)