[7] For example, since financial wealth is distributed unevenly in society, some argue that measures that are focused on boosting asset prices disproportionally favour the rich. Similarly, purchases of corporate bonds have ignited a discussion whether central banks should continue to purchase bonds issued by firms with a large carbon footprint.
Independent central banks cannot simply turn a deaf ear to the concerns of the public. Public trust is essential for the successful conduct and implementation of monetary policy. [8] More so, independence requires a central bank to respond to the concerns of the public and to carefully evaluate whether and how it may be able, within its mandate, to respond to these concerns.