9  Alberto Alesina and Lawrence H. Summers (1993), “Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence”, Journal of Money, Credit and Banking, Vol. 25, No. 2, pp. 151–162.
Inflation indeed rebounded and began its sharp upward move, to 5% by the end of that year and, according to preliminary data, further to 9.1% last month. And inflation may rise further in the near term.