Central bank independence is a common feature in advanced economies. Delegation of monetary policy to an independent … central bank with a clear mandate for price stability has proven to be successful in keeping a check on inflation and … paper first reviews the objectives of and arrangements for central bank/government cooperation in the US, UK, Japan and …

; the trust placed in central bank experts in preparing the Maastricht Treaty; the incremental momentum resulting from the … proved a very effective tool in aligning national policies and in consolidating central bank independence (which became, in …