For this reason, countries throughout the world have moved over the last 60 years to strengthen the independence of their central banks. It is simply good governance to keep a healthy degree of separation between those responsible for tax and spending policies and those responsible for monetary creation.
Y V Reddy: Indian economy – prospects for growth with stability Address by Dr Y V Reddy, Governor of the Reserve Bank of India, at the Institute of South Asian Studies, Singapore, 20 May 2008.