The rationale for this was that preventing monetary policy from being subjugated to the fiscal whims of governments would keep the value of money stable. That is why central banks attach such great importance to sound government budgets and fiscal compliance – criteria which, at the end of the day, serve the overriding goal of shielding monetary policy. 2.
The former is rapidly transforming our economies and societies. In the financial sector, in particular, new entrants such as Fintech and Insurtech companies are shaking up the market with new business models, new processes and products.