2.3  … and price stability remains the primary objective of monetary policy  Against this background, monetary policy and its tools must remain focused on price stability and should not be overburdened with other objectives. In fact, the credibility of monetary policy depends not only on the clarity of its objectives but also on transparency regarding its limitations.
Adopting financial stability as an additional, independent monetary policy objective runs the risk of arousing unrealistic expectations about the effectiveness of monetary policy tools. Nevertheless, central banks as institutions may still be given the additional task of pursuing financial stability, as long as they also have the appropriate set of additional independent tools available to them.