Since the recent turmoil experienced in financial markets, money market conditions have eased considerably, most notably in the US, following the Fed’s decision to cut interest rates by a cumulative 75 basis points.
In a democracy, you see, the general public must be able to understand whether the central bank is fulfilling its mandate – whether it is doing its job properly. The monetary policy strategy is also supportive in this regard as a benchmark for successful monetary policy. 4 The Maastricht regulatory framework  The Maastricht Treaty created the institutional framework for the euro.