Therefore, in an economy with precedents such as confiscation of deposits (1989, 2001), hyperinflation (1989, 1990), mega-devaluations (1989, 1990, 1991, 2002), and a default on  BIS Review 142/2007  1  the public debt (2001), the monetary system cannot set itself an exclusive goal and ignore the economy’s health and vulnerabilities.
To achieve long-term monetary and financial stability, this historical evolution needs to be taken into account. It is not an abstract exercise. Today, each monetary and financial policy move is fully coherent with the intertemporal goals of money market equilibrium and the preservation of the value of currency, stability and financial system depth.