Clipping central bankers’ wings

The European Central Bank (ECB) is the world's most independent central bank: its operational independence is enshrined in the treaty establishing the European Community and can only be amended through a treaty revision requiring the unanimous consent of the member states of the European Union. The ECB also sets its own operational objectives. The treaty does not specify a numerical inflation target, nor does it spell out which institution should set such a target, if there were to be one. In

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: