Two other principles, (i) the importance of central bank independence in order to improve the effectiveness and efficiency of monetary policy and (ii) the need to ensure consistent implementation of monetary policy over time, are reflected in the institutional set-up of most central banks, including the ECB.
Muslim community leaders have come together to publicly condemn the extremists as doing great harm to the Muslim community. Their clear and unequivocal collective stand has been enormously helpful in maintaining confidence and avoiding a rupture in racial and religious harmony. In Indonesia, where 90% of the population is Muslim, the government has been extremely circumspect in acknowledging and dealing with the problem.