I believe that within the current political context, where policies tend, more than in the past, to focus more on short term benefits and ignore longer term risks and costs, it is essential that an independent well regarded institution provides solid policy analysis and advice, and helps explain this to the public.
So, I believe that retaining the economic advisory role by the Central Bank in the 2010 BOI law has served the country well. In the second part of the conference, we have heard an extensive discussion of the panel of very distinguished speakers on monetary policy and Inflation Targeting in the post GFC era.