Sound private and public decisionmaking will be aided by determining ahead of the fact how one source of risk, namely demographic developments, will be dealt with. The degree of uncertainty about whether future resources will be adequate to meet our current statutory obligations to the coming generations of retirees is daunting.
Fourth, the best contribution that monetary policy can make to the economy is to deliver price stability, which should, therefore, be its primary objective. By delivering price stability, monetary policy also contributes, in the most efficient manner, to economic conditions that foster growth, employment and financial stability. However, it is not within the power of monetary policy to ensure the attainment of financial stability.