Unfortunately, the importance of the wide-ranging functions  8  BIS central bankers’ speeches  of the central bank is not widely recognized. In fact, media attention on the Bank is concentrated on monetary policy.
A key priority is to maintain our inflation target by maintaining a prudent monetary policy stance supportive of non-inflationary growth. Average inflation is expected to settle within the target of 4 percent ± 1 percentage point in 2008 and within 3.5 percent ± 1 percentage point in 2009.