In about half the cases, the explicit numerical target for inflation is set by the government, typically the finance ministry, generally in consultation with the central bank; in about half the cases, the target is set by the central bank, often in consultation with the finance ministry. The United States already has a mandate that includes price stability.
In this 9 / 10  BIS central bankers' speeches  regard, clear progress on CMU will help put in place the right conditions to encourage a greater degree of financial integration in the euro area. This in turn will help dampen the asymmetric effects of future shocks, bolster the effectiveness of monetary policy and enhance the welfare of our citizens.