Andreas Dombret: Challenges on the road ahead Speech by Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, at the 13th Euro Finance Week, Frankfurt am Main, 16 November 2010. * 1. *  *  Introduction  Professor Weder di Mauro, Professor Stark, Ladies and gentlemen, It is a pleasure for me to speak to you today.
This argument is not very convincing and does not seem to fit, for instance, the recent experience of New Zealand. For most of the postwar period the Reserve Bank of New Zealand was one of the least independent central banks in the OECD. However, in 1988 it was transformed into one of the most autonomous, with a very clear mandate to fight inflation.