Dia dhíbh go léir agus céad míle fáilte romhaibh go dtí an Banc Ceannais. Minister, President of the Business Studies Teachers Association and guests, you are all very welcome to the Central Bank. I am delighted that you could be with us today as we launch this new schools’ information pack, Price Stability: Why is it important to you.
In many countries, central banks have been granted the latter form of independence. This distinction accords neatly with an inflation-targeting framework, where the goal of monetary policy – the inflation target – is set by law or by the elected government, and the central bank has to implement monetary policy and achieve the inflation target without political interference.