Ethics, transparency and the competition for reputation, which are the cornerstone of good corporate governance, would invariably be the distinguishing features of banks that emerge ahead in an increasingly competitive market. BIS Review 33/2008  5
Let me pause here to stress a point. Why are inflation expectations so important? It’s because well-anchored expectations help promote stability in inflation and output as well as the financial system. Solid inflation expectations also give central banks more leeway in responding to temporary shocks, such as changes in energy prices or movements in the exchange rate.