However, instead of seeing this as a binary question “must be one or another”, in my view a competent central banker should possess the qualities of both the fox and the hedgehog. Pursuing the price stability objective with consistency and resolve, while keeping sound focus on sustainable economic growth and job creation, requires traits of the hedgehog.
The Bank will also continue to pursue more advanced central bank services as well as ensure welldisciplined management, according to a Medium-Term Strategic Framework for fiscal 2005-2009 formulated in March 2005, in order to properly carry out the duties entrusted to it as the nation's central bank. 2  BIS Review 79/2005