Independence of the Government and the central bank does not mean there should be no room for coordination, that we should disregard each other’s plans and measures in fashioning our own policy. If possible, we should strengthen favourable processes but, perhaps even more importantly, we should counteract the impacts that could drive the economy off its jointly plotted course.
A monetary policy that works efficiently can best support achieving the Government’s objectives by more stable growth, a predictable economic environment and the lower risk premium this engenders, which is also reflected in the reduction of the costs of financing the national debt.