A lack of transparency in the decision-making process may easily lead to a deficit of accountability. In addition to the clarification of monetary policy objectives, central banks provide the framework for communication about the justification for their decision.
Otherwise, the country in question would not be able to stop the increasing backlog regarding GDP per capita compared to the European Union or even reduce it. I am aware that such policies are not always popular, but as the Portuguese professor of finance, Pedro Santa-Clara was recently quoted as saying in the Financial Times, “Growth is a painful business”.