More specifically, some of the matters pending at the EU level that could hinder the smooth development of the EU economy are: the Brexit preparations after the agreement of 15 December 2017 for an orderly exit, and the need to reach a mutually acceptable agreement on how to address the refugee crisis ahead of the revision of the Dublin Regulation in June 2018.
First, instrument independence requires the central bank to make technical judgments about the instrument settings most appropriate for achieving the statutory goals--and this choice is typically based on a discussion of the central bank’s monetary policy committee, informed by the analysis of its staff. Second, monetary policy decisions aim at affecting economy-wide interest rates and, thereby, aggregate economic behavior.