There is a good level of high-quality disclosure about the financial position of banks and the government.
Indeed, numerous empirical studies over the past few decades have shown a negative correlation between inﬂation and central bank independence – a strong indication that independent central banks are in a better position to safeguard price stability than others. [17] 3.3.2 Independence in times of low inflation Despite this, the independence of central banks has been called into question, particularly in recent years.