Secondly, there was a conflict between some of the developmental objectives and that of controlling inflation, with the result that the ability of monetary policy to control inflation was undermined. Thirdly, it is very difficult to evaluate the performance of a central bank which has multiple and conflicting policy objectives, and thus hold it accountable.
We will be transparent and accountable for our actions. Most importantly, we will remain faithful to our mandate and provide an anchor of confidence and stability in difficult times. BIS Review 28/2009  7