Such reforms followed the understanding that governments’ objectives are sometimes at odds with central banks maintaining price stability. The public can read such misaligned incentives, anticipate the likely course of policy action, and consequently frustrate its effectiveness.
It is possible to classify risk within a model, where the uncertainty is about the outcomes that emerge in accordance with a model that specifies fully the outcome set 3/7  BIS central bankers' speeches  of probabilities; and ambiguity among models, where the uncertainty is about which alternative model should be used.