Moreover, my time at the Council helped me to shape my thinking about a host of other economic issues, such as social security, labour markets and issues of taxation. This is not to say, however, that my former profession has equipped me with all the knowledge necessary for central banking.
Central banks cover fields that are far more wide-ranging than the core monetary policy principles just outlined. We deal with financial stability issues, have responsibilities in the banking supervision process, are responsible for the proper functioning of the payment system, distribute cash services to banks, companies and households, and play an important role in international fora like the IMF and the different G-settings.