For a range of reasons therefore it was a timely moment for discussing the politics of central banking - the relationship of central bank functions to other areas of public policy and responsibility. The relationship between central banks and governments is a particularly subtle one. How is monetary policy formulated and how does it integrate with overall economic policy planning? Little has been written on this critically important topic. Should the central bank be merely the executor of policy, or should it have also the prime responsibility for the policy?

The session should also address the prioritization of central bank responsibilities and their range.