These adjustments will not be painless, and ensuring that they take place in an orderly manner will pose substantial challenges for policymakers: Preserve price stability while supporting growth, and continue injecting liquidity as needed by an industry that is still far from having resolved its problems, at a time of strong inflationary pressures and tightening credit conditions.
But the reality is that both kinds of central bank regard price stability as the best contribution that monetary policy can make to economic growth. And once price stability has been reached, the actions of a single-mandate central bank will often appear identical to those of a dual-mandate central bank. (Of course, the rhetoric will often be different.)