And while the Act provides for the government to over-ride the agreed policy targets agreement in certain circumstances, it also requires that to be done in a public process. Specific issues of institutional form Let me deal with a selection of the more specific issues which emerge in the design of an inflation targeting regime.
This is also reflected in the foreign exchange regime, which has always worked to mitigate excessive volatility, avoiding abrupt fluctuations that could jeopardize the economy's financial stability. After this crisis, financial stability will definitely start to play a role it has never played before in the priority list of central banks worldwide.