We do that by fulfilling our price stability mandate: an inflation rate of below, but close, to 2%. To that end we launched last year our asset purchase programme, or APP, to put inflation on a path back towards 2%. And last December we decided to recalibrate the APP to secure that path.
With the establishment of the European Monetary Union, the formation of the new republics following the break-up of the Soviet Union, and the democratization process in Latin America, new laws were passed for many central banks, and in all cases the emphasis was on their independence.