As elected representatives, accountable to the people and with cabinet and legislative responsibilities in their respective countries, the ministers spearhead implementation of the requisite legislative arrangements and fiscal policies to ensure that the financial system remains safe and the EC dollar remains stable.
The issue is what should be the determining factor for such secondary market operations. Generally, by controlling the short-term interest rate while letting markets determine the rest of the yield curve, the central bank attempts to transmit monetary policy impulses across the yield curve. The sovereign yield curve in turn influences the lending and deposit rates in the economy.