This is the best contribution that monetary policy can make to economic welfare and the achievement of high levels of activity and employment in our economies. 2  BIS Review 39/2005  Fiscal policies and the Stability and Growth Pact Let me now turn to fiscal policies.
The Irish Central Bank conducts market operations on behalf of the Eurosystem relating to the provision of liquidity to banks in Ireland; we are responsible for the oversight of payments and settlements systems and we contribute to the formulation of the Eurosystem’s policies on financial stability.