Concluding remarks  The ECB has put in place a clear and transparent strategy with decisions which are made by the Governing Council to achieve its primary objective of price stability in the medium term. In practice, there are key principles which underline these decisions to ensure the central bank to act properly and consistently over time.
To end, I would like to make three concluding points:  BIS Review 133/2007  9  •  First, the ECB has an interest in contributing to the functioning of money markets. However, neither the ECB nor any other central bank can ensure that the money market is always shielded from volatility and turmoil.