2.3 Monetary policy consensus Today, there is consensus in economic thinking around the world that price stability is the best contribution a central bank can make to enhance social welfare and to support sustainable growth.7 Most economists agree that, in general, monetary policy is neutral in the long run.
Frequently private competitors provide or could provide these services, and our ability to recover our costs, adjusted to include a factor for imputed profits, taxes and cost of capital, help determine whether it is beneficial for the economy that we stay in the business.