At the outset, I said: “A central bank is unique in that it conducts its business while always paying attention to the interfacing of the macro-economy and the financial system.” I think what is required of a central bank is to conduct appropriate monetary policy while giving due consideration to this unique feature, and at the same time to contribute to developing a market design in a broad context while strengthening close cooperation and dialogue with other public authorities as well as private financial institutions.
BIS Review 82/2000  6